Split Couples Might Need a Life Insurance Beneficiary Reboot
Getting through a divorce is never easy. When a married couple finally calls it quits, one of the assets that sometimes get lost in the shuffle is the family’s life insurance policy. And to that point…who becomes the policy’s beneficiary after the split? As this blog points out, failing to answer that question can occasionally…
What Is a Contingent Life Insurance Beneficiary?
Contingent Beneficiary Simply stated, a contingent beneficiary is someone you name that will receive the policy’s death benefit should your primary beneficiary die first. For instance, if Jane Doe (my Wife) should die first, the benefits should be paid to my son, James Smith and my daughter Jane Smith in equal shares. Is having a…