Can Children Be Beneficiaries Of Life Insurance?

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    Peggy MacePRO
    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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