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There are different types of beneficiaries; Irrevocable, Revocable and Contingent.
Beneficiaries are those named in a testamentary instrument, including a Last Will and Testament, trust or beneficiary designation. Beneficiaries can include direct family members, but can also be non-family members, trusts or charities.
Choosing a life insurance beneficiary A beneficiary can be a person, charity, business or trust. If the beneficiary is a person, they can be a relative, child, spouse, friend or anyone else you happen to know. As some agents like to say, you can even name your "secret lover" as a life insurance beneficiary.
A beneficiary is the person or entity you name in a life insurance policy to receive the death benefit.
There are different types of beneficiaries; Irrevocable, Revocable and Contingent.
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A beneficiary is the person or entity you name in a life insurance policy to receive the death benefit. You can name: One person. Two or more people.
There are different types of beneficiaries; Irrevocable, Revocable and Contingent.
The primary beneficiary gets the death benefits if he or she can be found after your death. Contingent beneficiaries get the death benefits if the primary beneficiary can't be found. If no primary or contingent beneficiaries can be found, the death benefit will be paid to your estate.
Choosing a life insurance beneficiary A beneficiary can be a person, charity, business or trust. If the beneficiary is a person, they can be a relative, child, spouse, friend or anyone else you happen to know. As some agents like to say, you can even name your "secret lover" as a life insurance beneficiary.
Generally, a beneficiary can apply for the proceeds simply by filling out the insurance company's claim form and submitting it to the company along with a certified copy of the death certificate. If more than one adult beneficiary was named, each should submit a claim form.

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