Life Insurance Beneficiary Review is Vital!

Make sure that your beneficiaries are up to date. For example, if you leave an ex-husband or wife as the beneficiary of your policy, they WILL get the death proceeds. It will not be over turned in a court of law. Depending on how your contingent beneficiaries are set up, if at all, 100% of your death benefit could go to someone that you do not wish to have the funds. The same goes for deceased beneficaries. If you have a deceased parent or spouse as your beneficiary, depending on how your contingent beneficiaries are set-up, the death benefit can go into your estate and be divided as state law dictates. That state's law could send the money through probate to someone you may not wish to have the funds.