1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Children can be beneficiaries of life insurance, but if they are minors when the death of the insured person passes, the court may name a guardian to handle the funds. It is better to leave the life insurance death benefit to a trusted adult to manage on behalf of your children, or to set up a trust that dictates how and when to distribute the money to your children.
    Answered on May 5, 2013
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