How often should you check your life insurance beneficiary designations?

When it comes to reviewing your designated beneficiaries for your life insurance policy, we recommend reviewing at least once a year.

When you purchase a life insurance policy, you have a plan to provide funds to a certain person or persons or to an organization. Let’s say that you select your brother as your beneficiary. If your brother dies before you do and you do not update the beneficiary information, the benefit will be paid to your estate. Let’s say that you marry, but you do not update your beneficiary designation to include your spouse,we will honor your selection, not your intention.

When you purchase your life insurance policy, you have a plan, but life sometimes changes these plans. Make sure that your beneficiary designation fits the needs of your current plan.

If you have questions about your beneficiary designation, or would like to review with our team. Connect with us!