Mar 23
Should I name my child as my life insurance beneficiary?
It depends. How old is your child? If he or she is under the age of 18, then I’d recommend against this. Rather, I would suggest naming an adult that you can trust or who would be taking care of your kids should something happen to you. This could be your husband or wife, or even sister or mother.
Many people, rather than simply naming their children as beneficiaries or contingent beneficiaries, have set up trusts, to make sure that the money they have provided, through their life insurance, will be distributed more sensibly… on a schedule that they can predetermine using criteria that they have decided, in advance, that makes the most sense.
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March 24th, 2007 at 7:59 am
But the thing is that it may likes the other peoples too. Any guess why??
April 25th, 2007 at 10:54 pm
Can the insurance agent assist in setting up such a trust, or is that something that should be done elsewhere before the selling of the policy and the determination of the beneficiary?