A life insurance beneficiary is the person or entity you designate to receive the death benefit when you die. You can name primary and contingent beneficiaries, split the benefit among multiple people, and change beneficiaries at any time.
Choosing the right beneficiary is one of the most important decisions when setting up life insurance.
Keeping your beneficiary designations up to date is crucial. Contact your agent to review your current designations.
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A common rule of thumb is 10-15 times your annual income. However, the right amount depends on your debts, family size, future expenses (college, retirement), and existing coverage. Read more
Term life insurance provides coverage for a set period (10-30 years) at the lowest cost. Whole life provides permanent coverage with cash value accumulation. Most families need term for income replacement and whole life for final expenses. Read more
Final expense insurance is a type of whole life insurance designed to cover end-of-life costs such as funeral expenses, medical bills, and outstanding debts. Policies typically range from $5,000 to $50,000 and do not require a medical exam. Read more
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