Life Insurance Beneficiary Designations
How to fill out a beneficiary designation?
I need to fill out the form for my retirement account and insurance life. My partner will be the main beneficiary. There are many more spaces for contingent beneficiaries. Do I have to add my children 3 under way individual (in case my husband is a survivor), or add me to my mother so she can be in charge and then give to children when they are adults? Kind of confusing because of the 5 extra spaces to add beneficiaries. Should I then list my mother, or the 3 children indvidually.
That depends on you to designate beneficiaries as you wish. For minor children, will have to appoint a trustee for the benefit. Make sure you have the will power / succession plan in place. This is especially important for parents with minor children.
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Ownership and beneficiary designations for life insurance (Personal financial planning portfolio) … |
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Facts about beneficiary and option designations (SuDoc VA 1.19:29-77-03/990) … |
