Who Gets My Life Insurance?
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63333 POINTSview profilePeggy MaceMost of the U.S.If you own the life insurance policy that is insuring your life. the person who gets your life insurance is the person you name as beneficiary on your policy. If someone else owns your policy, they get to choose the beneficiary, although as the insured person, you most likely will have a say in that.Answered on October 1, 2013flag this answer
14231 POINTSview profileTom SheehanAgency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482Simply stated, when you purchase and own a Life Insurance policy, you have the opportunty to name both a primary beneficiary as well as a contingient beneficiary. The primary would receive the proceeds upon your death. If for some reason the primary is unable or incapable of receiving the proceeds, the contingient beneficiary would then become the recipient.Answered on October 2, 2013flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaYour beneficiary is the one to whom the death benefit will be paid. This doesn’t need to be a natural person and is often a trust. It is extremely important to update the beneficiary of your life insurance policy. Every day someone dies leaving a sizeable chunk of money to someone that they don’t even like.Answered on May 30, 2014flag this answer
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