Choosing Your Life Insurance Beneficiary
Choosing a life insurance policy can be complicated enough, and choosing a beneficiary can be even harder. At Tim Huber Insurance, serving St. Augustine, FL, we’re here to help you understand your life insurance policy, and how it can help those you care about after you’re gone. Check out these tips for choosing your beneficiary:
– Think about the purpose of your insurance policy. If your goal is to provide for your family, your spouse or an adult child may be the best option. If your goal is to give to charity, a trusted member of the charity’s board of trustees may be a good choice.
– Update your beneficiary regularly. As your life and circumstances change, you may also change who you’d like your estate to go to in the event of your passing. For example, if you’re married and name your spouse your beneficiary, but they pass away, you need to name a new beneficiary.
– Understand your options when it comes to choosing a beneficiary. You are able to name more than one person.
– Name a secondary beneficiary. In the event that your primary beneficiary passes away or refuses to accept the money, it will be up to a court to decide where your money goes. Having a secondary beneficiary takes care of this problem.
Call Tim Huber Insurance, Serving St. Augustine, FL
If you’re ready to start protecting your assets and your loved ones with a life insurance policy, we’re here to help. Call Tim Huber Insurance, serving St. Augustine, FL, or stop into one of our offices to chat with an agent about how we can help with your life insurance needs.