On this weeks “Money Matters”, we discuss three true or false questions. Whether insurance pays the benefits owed to the beneficiary even if that person is a minor. Will trumps a life insurance policy beneficiary listed? Also whether you should have a secondary beneficiary listed. Do beneficiaries that are minors receive payment from insurance companies? False they do not the funds are given to the courts. This can be very costly and the minor will receive their benefits once they are adults. Will trumps life insurance policy beneficiary be listed? False, It is completely for option to make it match your personal will. However you will not be forced to do so. The final true or is whether you should have a second beneficiary listed? True, It is easy to pick who will be the primary beneficiary. Also if you don’t the money will go into your estate and will this will cost you do to probate.
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Money Matters Beneficiary Tips