Life Insurance Policies Require that You Name Beneficiaries

The preparation of a beneficiary designation clause in a life insurance policy is important. If no beneficiary is designated, the policy proceeds many end up going into a decedent’s estate and being distributed to unintended beneficiaries.

Additionally, inserting a person’s correct name and providing for alternate beneficiaries will insure that the proper individuals will receive the life insurance proceeds.

The beneficiary designations should always be reviewed and up-dated to account for any changes and to make certain that the designations are consistent with an over-all estate plan.

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