Sentences with phrase «listed as a primary beneficiary»

For example, two children of an insured may both be listed as primary beneficiaries.

It sounds as if you are listed as a primary beneficiary and there are lines underneath the primary designation with the two other individuals.

About seven years ago, I encountered a circumstance in which a university was listed as the primary beneficiary of a deceased plan participant's workplace retirement account.

You would be surprised at how often someone with life insurance dies and ends up leaving their spouse with nothing because their ex-spouse is still listed as their primary beneficiary.

It sounds as if you are listed as a primary beneficiary and there are lines underneath the primary designation with the two other individuals.

For example, your spouse may be listed as the primary beneficiary and your adult child (or another loved one) would be named as the contingent beneficiary.

In cases where more than one person is listed as the Primary Beneficiary, the benefit amount would be divided equally among them.

Your spouse can be listed as the primary beneficiary and a trust can be named as a contingent beneficiary.

Not exact matches

For example, Cheryl lists her husband John as primary beneficiary for her life insurance policy and their two children as contingent beneficiaries.

For example, Sarah lists her children's stepfather Alex as primary beneficiary and her favorite charity as contingent beneficiary for her life insurance proceeds.

So I'm listing her revocable trust as «owner» and she as «primary beneficiary», with no age limits.

Most people will list their spouse as their primary beneficiary, so if your spouse has died, you should immediately change the beneficiary designation.

You can name each other primary beneficiaries and then list, for example, adult children or trusted family members as secondary beneficiaries in the event that you both pass away at the same time.

Or you can instead list your surviving spouse or family members as the sole primary beneficiaries, allowing them the freedom to pay off the mortgage once they get the death benefit.

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.

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.

Your spouse is listed as the life insurance policy's primary beneficiary.

Most married people with life insurance list their spouse as the primary beneficiary.