Do You Have to Name Only One Beneficiary?

Life insurance is a wonderful thing that can truly make a difference if he lives of those that you leave behind after passing. A beneficiary serves as a person that gets the insurance payout after the policy is cashed in. When naming a beneficiary, it is important to think carefully. For those that are near the Hilliard, OH area, the agents with Stanley Insurance Group can help you to find the policy that is going to work best for you.

When naming a beneficiary you can name anyone really. You can also name more than one person and you can determine how much of the policy they are going to get as well. This means that if you have children that are over the age of 18, for instance, you can leave a portion of your coverage to your kids and the rest to your spouse. This s a fantastic feature that makes it possible to make sure that the money from your policy is divided up as you want it to be. If you want to leave your insurance money to more than one person you may need an agent to help you get the paperwork filled out and to get the right items filled out so that the policy can be paid out.

You may also name more than one beneficiary in terms of the order of payout as well. Say you want to leave the money to our spouse, they would be the primary beneficiary. You could also name a secondary and tertiary beneficiary that would get the money should something happen to the people that are in line before them. This is a fail-safe to make sure that the policy that you paid for is able to pay out to someone. For those in the Hilliard, OH area, the agents with Stanley Insurance Group can help you get the policy that works for you.