Life Insurance Beneficiaries: How to Choose the Right Person

“What factors should someone consider when choosing a life insurance beneficiary? What is your goal in buying life insurance should help you answer who will be the beneficiary.

When choosing the beneficiary for life insurance, you should consider who you are providing for in the case of your premature death. If you are the sole income earner for your family and have children, you should be thinking about replacing your income for your surviving spouse and college education for your children. Thinking this way and working with a trusted insurance advisor can help you determine the amount of insurance you need.”

Read more from Ryan Klekar in “Life Insurance Beneficiaries: How to Choose the Right Person” on MoneyGeek.com here.