At the end of the day, life insurance isn’t really about you; it’s about the people around you that depend on you. Having life insurance is a crucial component to any financial plan, but you aren’t going to be around to collect when it’s time for a claim to be filed. Besides having a life insurance plan, the next most important decision to make is who your beneficiary will be.
There are a few different options available when considering who your beneficiary should be. You may appoint one person as you beneficiary or you may appointment multiple people. You can also donate your death benefit to a charity or have it paid into a trust or your estate. You have a great deal of control over how you death benefit is paid out, so choose your beneficiary wisely.
Choosing your beneficiary for your life insurance policy is one of the most personal and important decisions you’ll make in your lifetime. Talk to a life insurance agent today and find out how to best protect your loved ones when you go today.