What This Video Covers
It is so important to name a beneficiary to receive the death benefit of a life insurance policy. If you don't, the money will go back to your estate and the people and entities you owe money to can collect before it’s passed down to the heirs. It's best not to leave the benefit to a minor because they won’t be able to directly collect until after their 18 th birthday. Instead you can name someone you 'trust' to manage the children’s affairs. If you don't know who your beneficiaries are or they are younger than 18, you might want to do a little housekeeping to make sure you are 'good to go'.
