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Life insurance beneficiary, English Beneficiary.How to designate and change the beneficiary of life insurance, this may be a key issue that all policyholders must consider.Realistically speaking, it directly means,Who on earth can get this huge amount of claim cash.
American Life Insurance Guide Network invitedNorth American Hummingbird Life InsuranceLife Insurance Advisor Heather xiong, Conducted a question-and-answer dialogue about "life insurance beneficiaries", explaining and answering the 10 most common questions that policyholders are most concerned about.
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Q: Can the beneficiary of life insurance be changed?
Answer: It can be changed.You can log in at any timeOnline self-service, contact life insurance company, contact life insurance brokerThese three methods change the beneficiary of the policy.
Insurance is a part of financial planning. According to the different stages of our life growth and major life time, we also need to regularly check and examine whether our beneficiaries are reasonable.
Q: Can the beneficiaries of life insurance be foreigners?
Answer: Yes, non-US residents/citizens can become beneficiaries of life insurance.
Q: Can a life insurance beneficiary be a friend?
A: Yes.
Q: Do life insurance beneficiaries have to have an SSN?
Answer: No.Life insurance policies do not require the beneficiary's Social Security Number (SSN).You can leave death claims to anyone you designate, and you don’t need a social security number.But if there is an SSN, please provide it, which will help speed up the processing of claims.
Question: Having said so many "can" situations, are there any "no" situations?
Answer: Basically anything is possible.If you have to say "no", then you have to talk about the restrictions on marriage and changing beneficiaries.There are nine states in the United States that have implemented the "Marital Public Property Law." The states that enforce this law are:
- Arizona
- California
- Louisiana State
- Idaho
- Nevada
- New Mexico
- Texas
- Washington DC
- the state of Wisconsin
In these states, if you get married and form a family, the life insurance policy you apply for becomes a joint property of the husband and wife.If you want to change the beneficiary,It requires the consent of the spouse to designate the beneficiary as someone other than the spouse.
Q: If I am not married and live in these states, do I have this problem?
Answer: As long as you are not married, you are not restricted.The insurance policy purchased with your own pre-marital money belongs to pre-marital personal property.You can appoint your business partners, friends, as your beneficiaries.
Q: Can life insurance beneficiaries write about themselves?
Answer: No.The so-called beneficiary is the claim settlement after the insured has passed away.You can leave this money to your living relatives, or other organizations or institutions.
Q: Do I need to tell the beneficiary that I bought the policy and designate them as the beneficiary of the policy?
Answer: It's up to you.You can choose not to tell, but when appropriate, it would be more reasonable to make arrangements in advance to tell the other party.
Editor's note: According to the American Life Insurance Guide Networkspecial report, There are currently unclaimed $3.68 million in insurance assets in the United States.In California, claimed $1730 million residents,It was not known that they were actually designated as beneficiaries of life insurance.
Q: I have not yet planned an insurance beneficiary, can I apply for this?
Answer: You can apply.If you do not have a subjectively designated insurance beneficiary, you can also contact me, and we will provide a compliant charity or non-profit organization. You can choose to designate a donation according to your preference.
Question: How can the beneficiary fill in the information for the elderly who are single and have no children or relatives?
Answer: You can find a professional or organization with "fiduciary responsibility" to plan your estate, establish a beneficiary entity, and help you deal with the property affairs behind you.It is also possible to sign an agreement with a funeral service company to set aside a portion of the compensation fund and designate the funeral service company as the beneficiary.
It is also an option to negotiate and donate the compensation funds to community charities or different religious organizations that provide services, and let them be beneficiaries. Every year, many elderly Americans are coordinated by various religious organizations to help deal with follow-up matters.
Question: Can a life insurance policy held in the name of a trust be transferred to my own name?
Answer: Yes.For some special reasons, the policyholder needs to usetrustAfter applying for an insurance policy in your name, you can also transfer it to an individual.Currently,We have not found any online self-service of any life insurance brand that can help policyholders complete this conversion operation.You must contact your life insurance adviser to complete it.
Summary of Q&A Column for Life Insurance Beneficiaries
通過American Life Insurance GuideThe content of the simple question-and-answer dialogue can help policyholders understand about "Can the beneficiary of American life insurance be changed?Can an American life insurance beneficiary be a friend?Can the beneficiary of American life insurance be oneself?"Wait for issues of concern.
Whether you are preparing to apply for insurance or have a life insurance policy for many years, professional life insurance brokers or private life insurance consultants will efficiently help you answer and deal withChange the beneficiary of U.S. life insuranceRelated matters.
AboutAmerican life insurance beneficiariesMore knowledge ofAmerican Life Insurance Guide©️It is recommended that policyholders refer to insurGuru©️Life Insurance Academy's "What is the "beneficiary" of insurance?"In the column, the course explains in detail how to designate an insurance beneficiary and frequently asked questions. (End of full text)
(>>>Related reading:How to designate a beneficiary for a cash deposit account in the United States: What is a savings account trust and what are its advantages and disadvantages? ）
