Choosing Your Life Insurance Beneficiary

Your life insurance beneficiary is awarded the proceeds of your policy upon your death. Naming your life insurance beneficiary is most likely an easy choice, but there are still a few things you need to keep in mind before you make your decision.

Premiums can vary by as much as 50%. Visit Netquote, where you can fill out a short form, select a plan, and input your personal data for a true personalized quote in minutes. Click here to start.

Use Insurecom to compare additional term life and whole life quotes, and get expert advice from an agent in your area, who can help you design a plan that's right for you. Click here to fill out a quick form.

Your life insurance beneficiary

Your life insurance beneficiary can be an individual, your estate or an organization. The proceeds of your life insurance policy are distributed upon death to your chosen beneficiary.

Multiple life insurance beneficiaries

If there are several individuals who you want named as multiple life insurance beneficiaries, you can allocate portions of your death benefit to each person. Just designate a percentage of the life insurance proceeds to each individual you name.

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Even without naming your life insurance beneficiary you can still compare multiple life insurance quotes at Netquote. Simply fill out the short online form, and request more information from the providers you like the most.

Other life insurance beneficiary choices

Changing your life insurance beneficiary is permitted and should be completed after every life change - marriage, divorce, birth of a child, or death of a beneficiary.

Naming a contingent life insurance beneficiary is important too, especially if you and your beneficiary die at the same time. A contingent life insurance beneficiary receives your life insurance policy proceeds if your primary beneficiary is deceased.

Next: select a coverage level with our life insurance calculator.

For more help . . .

Getting the lowest possible premium on your life insurance is almost like an art form. There are many variables to consider, and to get the right balance of term length, benefit amounts, and policy riders and illustrations, you need to take a careful step-by-step approach to the buying process.

Our free life insurance course is designed to help you do just that.

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