Couples should consider designating
each other as the primary beneficiary on bank accounts, insurance policies and retirement plans.
That meant keeping
each other as the primary beneficiary, and naming the trust as the secondary beneficiary.
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.
It is therefore imperative for both father as well as mother to have independent life insurance policies and name
each other as primary beneficiaries.
Not exact matches
It sounds
as if you are listed
as a
primary beneficiary and there are lines underneath the
primary designation with the two
other individuals.
Or, the custodian could go strictly «by the book», where the
beneficiary form indicates a specific individual
as the
primary beneficiary, regardless of any
other outside document.
You can name Mostly Mutts Animal Rescue
as a
primary life insurance
beneficiary or
as a contingent
beneficiary should your
other beneficiaries not survive you.
You can name The Grey Muzzle Organization
as a
primary life insurance
beneficiary or
as a contingent
beneficiary should your
other beneficiaries not survive you.
It is common for a lender, bank or
other entity to ask a business owner to take out and maintain a life insurance policy and name the lender
as a
primary beneficiary for the debt (payoff schedule is usually attached to the assignment),
as a condition of the loan until the loan is repaid.
This type of policy is a life insurance policy which is a purchased for
primary executive or
other key personnel in a company where the company is named
as the
beneficiary.
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.
It sounds
as if you are listed
as a
primary beneficiary and there are lines underneath the
primary designation with the two
other individuals.
When purchasing these policies, James and Lily would have likely named each
other primary beneficiaries, followed up by naming Sirius Black their contingent
beneficiary as custodian of their minor son.
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.