Sentences with phrase «as the primary beneficiary on»

Couples should consider designating each other as the primary beneficiary on bank accounts, insurance policies and retirement plans.

Married couples often list each other as the primary beneficiary on life insurance policies, and should think carefully before making any changes during a separation.

They act as the primary beneficiary on your life insurance policy and the balance of your loan is paid if you were to die.

Not exact matches

[2] Mainstream organizations are defined here as those working in different projects, without a focus on disability — as opposed to disability focused NGOs, which usually implement (or partner with local organizations for that purpose) different types of projects, with persons with disabilities as their primary beneficiaries.

The primary disadvantage of naming a trust as beneficiary is that the retirement plan assets will be subjected to required minimum distribution (RMD) payouts, which are calculated based on the life expectancy of the oldest beneficiary.

@KeithB My personal opinion is that it is a bad idea to have multiple primary beneficiaries on an IRA especially if there is any possibility that one or more of the beneficiaries pass away at the same time (or around the same time) as you (think of a family involved in an accident).

Expanding on Barker's comments, it should be noted that beneficiaries indeed are paid out in the event of the primary beneficiaries» passing (prior to, or in conjunction with the named person), and are as important as a primary beneficiary when taking into consideration as to how one wishes for their policy to assist their family and loved ones after one's passing.

Barker elaborates on the importance of contingent beneficiaries, «Always ensure you have a contingent beneficiary named, especially when your spouse is the primary beneficiary as spouses spend the most time together and may be involved in the same unfortunate circumstances that may have them both pass at the same time.

As you narrow down your answers, organizing your plans on the site's personalized dashboard makes it easy to create primary and backup plans for the handling of your property and assets, who your beneficiaries are, and how you'd like your medical care and final arrangements carried out.

As the policyholder, you make the funeral home the primary beneficiary of your policy with any proceeds left over targeted for the next beneficiary on the policy.

A great route to take when deciding on who should receive the proceeds of your life insurance is designating your living trust as the life insurance contingent beneficiary with your spouse as the primary beneficiary.

Typically, the primary breadwinner in the family will purchase life insurance and list their spouse and their children (if they have any) as beneficiaries on the policy.

Most life insurance companies include a rider on their term life policies that allows the payment of a portion of the policy death benefit to be paid to the policy beneficiary (s) in the event the primary insured is diagnosed as terminally ill by a practicing, licensed physician.

They had life insurance on each other, but the primary goal of his insurance with her as beneficiary was so she could take care of his grandfather, keeping him in his own home, a plan that none of the rest of the family wanted to participate in.