Sentences with phrase «as a beneficiary of your life insurance policy because»

Another good practice tip is that you should avoid designating your «estate» as the beneficiary of any life insurance policy because this vague designation will require that the proceeds must go through probate, and this costly and time consuming court process should be avoided whenever possible.

Never: Never name your minor child as a beneficiary of your life insurance policy because a minor can not inherit money and as a result it will be put in a blocked account that they can not access.

Not exact matches

Because the death benefit amount of your cash value life insurance policy may change over time as its cash value grows, make sure to specify a percentage of the proceeds to go to your beneficiaries rather than selecting a dollar amount.

If you believe you were named as a beneficiary of a life insurance policy but you don't know how to find out, don't panic, because there are a number of ways to track down a missing policy.

One of the biggest reasons for this is because the proceeds that are received by life insurance policy beneficiaries can be used for any number of financial needs, such as the payoff of debt (including a home mortgage), as well as the payment of everyday living expenses.

That it's not all bad news when it comes to the graded death benefit policies because in most cases, if an insured dies from «natural» causes during the graded death benefit period, most guaranteed life insurance policies (or at least the ones we offer here at TermLife2Go) will have some «reimbursement program» whereby the insured's beneficiary will receive back some if not all of the premium payments that the insured paid plus some type of additional interest earns as well.

Because the death benefit amount of your cash value life insurance policy may change over time as its cash value grows, make sure to specify a percentage of the proceeds to go to your beneficiaries rather than selecting a dollar amount.

Beneficiaries procure a proof of death document because it is required for settling estate issues, such as collecting the death benefit from a life insurance policy.

This is because, with the help of an effective life insurance plan, the insurance company will pay a predetermined sum of money after your death to the beneficiary as stated in the policy's documents.

It's not all bad news because with most guaranteed accepted life insurance policies, the best final expense and burial insurance companies will generally have a policy whereby: Should the insured die from natural causes during the graded death benefit, most if not all of the paid premiums will be returned to the insured beneficiaries so it will be as though the insured didn't actually lose money by purchasing the policy and dying too soon!