Let’s talk about life insurance and some important things you need to know if you have or want to list your kiddos as the beneficiary to your life insurance policy.
- If you pass away before your child is 18 years old, the death benefit will not go to them. It will go to the legal guardian that is listed for your children.
- It’s important that you record in a will, a trust, or some legal document how you want the child’s legal guardian to handle that life insurance payout.
- If you choose not to leave behind wishes on how you want the legal guardian to spend that money, then the legal guardian is free to spend it however they see fit.
Clevenger Insurance is here to educate, engage, and empower you to create a marvelous insurance experience. So, give our office a call at 574-267-2181 if you have any questions regarding your insurance coverages!