Trusts & Estates
Top 5 Mistakes When Naming Beneficiaries of Insurance Policies Protecting Your Goals and Your Loved Ones
By: Paula Clarkson, J.D.
Naming beneficiaries of an insurance policy seems likes an easy thing to do. If a person is married, the spouse is the beneficiary. The children are often named the contingent beneficiaries. If a person is not married but has children, the children are often named as first beneficiaries. Usually these are the people that life insurance is intended to benefit, however, without knowing or considering the consequences of the beneficiary designation, the policy holder’s intended goals may be thwarted.
In this article are the top five mistakes people make when naming a beneficiary of their insurance policy.
To access the list and read more about mistakes when naming beneficiaries of insurance policies protecting your goals and your loved ones, please complete the form below.
Topics
Complete the form to get your free guide
Related Resources
WealthCounsel Quarterly, Volume 18, No. 1—Estate Planning in the Digital Age
This issue of the WealthCounsel Quarterly will equip you to educate your clients about the need to plan for their digital assets, help you design effective estate plans to transfer those assets to their beneficiaries, and increase your firm’s efficiency.
Learn More
WealthCounsel Quarterly, Volume 16, No. 1—Asset Protection
This issue of the WealthCounsel Quarterly focuses on asset protection considerations and strategies. It also invokes vibrant discussion within the member community.
Learn More
WealthCounsel Quarterly, Volume 16, No. 2—Small Business
This issue of the WealthCounsel Quarterly will spur fruitful conversations with your small business clients that will result in positive outcomes for their businesses.
Learn More