Sentences with phrase «spouse as primary beneficiary»

You can name your spouse as primary beneficiary with the stipulation that if he or she dies within 30 days of your death the proceeds go to the contingent beneficiary.

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

It is common for policyholders to name their spouse as the primary beneficiary of their life insurance policy and their children as contingent beneficiaries.

In simpler estate plans where there is no federal estate tax issue, it may just be easier to designate your spouse as a primary beneficiary and perhaps your trust or adult children as a contingent beneficiary.

So if you named your spouse as primary beneficiary, had not named any contingent beneficiaries, and you both pass away at the same time, then the insurance company won't be able to pay your spouse — and at that point they will simply pay the death benefit to the estate.

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.

Most people don't really give a thought about the beneficiary's portion of their policy.In most instances, we name our spouse as the primary beneficiary of our life insurance policy.The majority of insurance companies would -LSB-...] Read More

Most people choose their spouse as their primary beneficiary.

In simpler estate plans where there is no federal estate tax issue, it may just be easier to designate your spouse as a primary beneficiary and perhaps your trust or adult children as a contingent beneficiary.

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

Annuity owners often setup their spouse as the primary beneficiary and their children and / or grandchildren as contingent beneficiaries.

Most people choose their spouse as their primary beneficiary.

Not exact matches

For example, if your spouse named you as the primary beneficiary of his IRA, and your son as the contingent beneficiary, if you disclaim your IRA inheritance (meeting all the necessary requirements), your son would inherit all of the IRA assets.

If you make your spouse your primary beneficiary, be sure to include secondary beneficiaries as well.

If you were not yet in a serious relationship with your spouse when you first bought life insurance, you may have named a parent or sibling as your policy's primary beneficiary.

Often, you'll name a primary beneficiary (generally your spouse), and a secondary beneficiary (often your children) if the primary is incapacitated or dies at the same time as you.

It's important to know whether your spouse has life insurance and whether these would consider adding you as a primary beneficiary.

This rider enables your spouse, if he or she is the sole primary beneficiary, to continue your policy upon your death as the new owner, at a potentially higher policy value that includes any amount that would be payable under the Enhanced Beneficiary Benbeneficiary, to continue your policy upon your death as the new owner, at a potentially higher policy value that includes any amount that would be payable under the Enhanced Beneficiary BenBeneficiary Benefit Rider.

If you were not yet in a serious relationship with your spouse when you first bought life insurance, you may have named a parent or sibling as your policy's primary beneficiary.

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.

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.

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.

Just because you have a common law marriage, don't make the assumption that your common - law spouse will automatically receive the death benefit unless you specifically name him or her as your primary beneficiary.

Most policyholders designate their surviving spouse or an adult child as their primary beneficiary.

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.

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 people name their spouse (or partner) as the primary beneficiary and their children as secondary (or contingent) beneficiaries.

You would have to submit the primary KYC documents to identify the spouse, nominees, and beneficiaries so as to prevent any conflicts.

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

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