Life Insurance FAQ

Buying life insurance can be a complex and confusing decision. For many people the challenge of planning for the unknown while staying within a budget can leave heads spinning. Fortunately, we've taken our years of industry experience and pulled together some of the most frequently asked questions regarding life insurance. If you have a question that is not included in this section, call our life insurance specialists at 1-800-521-7873.

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How do I choose a life insurance beneficiary?

It is a big decision that requires a lot of careful thought and attention. Most married people choose their spouse. It makes sense to protect your spouse financially in the event of your death. If you have children your spouse will then be able to care for them with the money from the death benefit. If you have children but no spouse then age is the critical factor. If at least one child is 18 or older, choosing him or her as the beneficiary is probably best. Some people may choose a non-traditional beneficiary--- a beloved relative or a charity. Choosing a life insurance beneficiary is a very personal and important decision in the buying process. And here’s a tip, as the owner of your life insurance policy, you can change the beneficiary designation as many times as you would like or distribute the death benefit proceeds among several beneficiaries.

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