{"id":6324,"date":"2023-03-03T18:06:12","date_gmt":"2023-03-03T18:06:12","guid":{"rendered":"https:\/\/www.insurancereviews.org\/?page_id=6324"},"modified":"2023-04-06T11:02:37","modified_gmt":"2023-04-06T11:02:37","slug":"what-is-a-beneficiary","status":"publish","type":"page","link":"https:\/\/www.insurancereviews.org\/life-insurance\/what-is-a-beneficiary\/","title":{"rendered":"The importance of assigning a Beneficiary"},"content":{"rendered":"<div class=\"23b99c2e6ce4f9f8cd1ef508ff557297\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- insurancereviews -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4403462265716663\"\r\n     data-ad-slot=\"5257483432\"\r\n     data-ad-format=\"auto\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/p><\/p>\n<\/div>\n\n<p>When <a href=\"https:\/\/www.insurancereviews.org\/life-insurance\/life-insurance-cost\/\">purchasing a life insurance policy<\/a>, having to go through the various detailed processes, such as choosing which type and coverage, or calculating premiums,\u00a0 <a href=\"https:\/\/www.worldbank.org\/en\/about\/unit\/human-resources\/Designate-or-update-insurance-beneficiary\" target=\"_blank\" rel=\"noreferrer noopener\">assigning beneficiaries<\/a> can give you a sense of relief and accomplishment. At last, you can rest assured that you have made one of the wisest financial decisions.\u00a0<\/p>\n\n\n\n<p>Now, exactly what is a <strong>beneficiary<\/strong>?\u00a0<\/p>\n\n\n\n<p>A <a href=\"https:\/\/www.insurancereviews.org\/life-insurance\/\">life insurance<\/a> beneficiary is the person or entity named in the policy to receive the death benefit upon the insured person&#8217;s passing.\u00a0<\/p>\n\n\n\n<p>The beneficiary isn&#8217;t limited to family members; in the absence of family, a beneficiary can be a trusted friend, or a chosen organization. Only the insured person can select and name multiple beneficiaries and how the benefit will be divided among them.<\/p>\n\n\n<figure class=\"wp-block-post-featured-image\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1200\" height=\"628\" src=\"https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/What-is-A-Beneficiary-1.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"What is A Beneficiary\" style=\"object-fit:cover;\" srcset=\"https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/What-is-A-Beneficiary-1.png 1200w, https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/What-is-A-Beneficiary-1-300x157.png 300w, https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/What-is-A-Beneficiary-1-650x340.png 650w, https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/What-is-A-Beneficiary-1-768x402.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n\n\n<h2 class=\"wp-block-heading\">What Is A Beneficiary?<\/h2>\n\n\n\n<p>To expand more about what is a beneficiary, below are 2 of the most common types of <a href=\"https:\/\/www.forbes.com\/advisor\/life-insurance\/choose-beneficiary\/\" target=\"_blank\" rel=\"noreferrer noopener\">beneficiary in life insurance<\/a>:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Primary<\/h3>\n\n\n\n<p>This beneficiary is the <a href=\"https:\/\/www.investopedia.com\/terms\/p\/primary-beneficiary.asp\" target=\"_blank\" rel=\"noreferrer noopener\">first person entitled to receive the proceeds of the policy<\/a>, and the policy owner can name one or more primary beneficiaries.<\/p>\n\n\n\n<p>If the primary beneficiary dies before the insured, the policy owner can designate a contingent beneficiary to receive the death benefit.&nbsp;<\/p>\n\n\n\n<p>The policy owner can also change the beneficiary designation at any time, as long as they are of sound mind and have the legal capacity to do so.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Contingent<\/h3>\n\n\n\n<p>A contingent beneficiary in a life insurance policy is the person or entity designated by the policy owner to receive the death benefit in the event that the <a href=\"https:\/\/www.investopedia.com\/terms\/c\/contingent_beneficiary.asp\" target=\"_blank\" rel=\"noreferrer noopener\">primary beneficiary predeceases<\/a> the insured.\u00a0<\/p>\n\n\n\n<p>The contingent beneficiary only receives the death benefit if the primary beneficiary is no longer alive at the time of the insured&#8217;s death.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How To Choose a Beneficiary?<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"632\" height=\"466\" src=\"https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-21.png\" alt=\"\" class=\"wp-image-6373\" srcset=\"https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-21.png 632w, https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-21-300x221.png 300w\" sizes=\"(max-width: 632px) 100vw, 632px\" \/><\/figure>\n\n\n\n<p>When buying life insurance, it&#8217;s also important that you get to choose your beneficiary. Here are some simple steps to do so:<\/p>\n\n\n\n<ul>\n<li>Consider who you want to benefit from your life insurance policy.<\/li>\n<\/ul>\n\n\n\n<ul>\n<li>It pays to understand the financial needs of your potential beneficiaries, including current and future expenses.<\/li>\n<\/ul>\n\n\n\n<ul>\n<li>Choose a primary beneficiary, who will receive the policy payout if they survive you.<\/li>\n<\/ul>\n\n\n\n<ul>\n<li>Also, choose a contingent or secondary beneficiary to receive the policy payout if your primary beneficiary is unable to.<\/li>\n<\/ul>\n\n\n\n<ul>\n<li>Decide how you want to divide the payout if you have multiple beneficiaries.<\/li>\n<\/ul>\n\n\n\n<ul>\n<li>Review and update your beneficiary designation periodically, especially after major life events such as marriage, divorce, or the birth of a child.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">What Is A Beneficiary And Why Should I Have One?\u00a0<\/h3>\n\n\n\n<p>As mentioned previously, a beneficiary is the assigned recipient by you on your life insurance policy. Having a beneficiary in your life insurance policy ensures that:<\/p>\n\n\n\n<ul>\n<li>The death benefit will be paid to the person or people you choose.<\/li>\n<\/ul>\n\n\n\n<ul>\n<li>Without a designated beneficiary, the life insurance proceeds may be subject to a lengthy and costly probate process.<\/li>\n<\/ul>\n\n\n\n<ul>\n<li>A beneficiary designation allows you to specify exactly who should receive the death benefit, rather than leaving it up to chance or the courts.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Who Can Be A Beneficiary<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"630\" height=\"620\" src=\"https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-22.png\" alt=\"\" class=\"wp-image-6374\" srcset=\"https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-22.png 630w, https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-22-300x295.png 300w\" sizes=\"(max-width: 630px) 100vw, 630px\" \/><\/figure>\n\n\n\n<p>A beneficiary is a crucial component of any financial or legal arrangement, as they are the intended recipient of the benefits or assets. Without a designated beneficiary, it may be difficult to ensure that assets are distributed according to the wishes of the owner.<\/p>\n\n\n\n<p>In purchasing life insurance, <a href=\"https:\/\/www.investopedia.com\/terms\/b\/beneficiary.asp\" target=\"_blank\" rel=\"noreferrer noopener\">policyholders can choose anyone as their beneficiary<\/a>, as long as they have an insurable interest in that person&#8217;s life.\u00a0<\/p>\n\n\n\n<p>This means that the beneficiary would experience a financial loss if the insured person were to pass away.<\/p>\n\n\n\n<p>The following are common types of beneficiaries that can be named in a life insurance policy:<\/p>\n\n\n\n<p>Primary beneficiaries &#8211; These are the first individuals or entities who will receive the death benefit of the policy upon the policyholder&#8217;s death.<\/p>\n\n\n\n<p>Contingent beneficiaries &#8211; These are the individuals or entities who will receive the death benefit if the primary beneficiary predeceases the policyholder or is otherwise unable to receive the death benefit.<\/p>\n\n\n\n<p>Revocable beneficiaries &#8211; These are beneficiaries who can be <a href=\"https:\/\/www.investopedia.com\/terms\/r\/revocablebeneficiary.asp\" target=\"_blank\" rel=\"noreferrer noopener\">changed or revoked by the policyholder at any time<\/a> without the beneficiary&#8217;s consent.<\/p>\n\n\n\n<p>Irrevocable beneficiaries &#8211; These are beneficiaries who <a href=\"https:\/\/www.investopedia.com\/terms\/i\/irrevocablebeneficiary.asp\" target=\"_blank\" rel=\"noreferrer noopener\">cannot be changed or revoked by the policyholder<\/a> without the beneficiary&#8217;s consent.<\/p>\n\n\n\n<p>Trusts &#8211; A trust can be named as a beneficiary, which can <a href=\"https:\/\/www.investopedia.com\/terms\/b\/beneficiary-of-trust.asp#:~:text=What%20Is%20a%20Beneficiary%20of,outlined%20in%20the%20trust%20agreement.\" target=\"_blank\" rel=\"noreferrer noopener\">provide tax advantages and asset protection<\/a> for the beneficiaries.<\/p>\n\n\n\n<p>Estate &#8211; The policyholder&#8217;s estate can be named as the beneficiary, which means that the proceeds will be distributed according to the <a href=\"https:\/\/www.plea.org\/death-estates\/estate\/responsibilities-executor-or-administrator\/beneficiaries-of-the-estate\" target=\"_blank\" rel=\"noreferrer noopener\">policyholder&#8217;s will or state law<\/a>.<\/p>\n\n\n\n<p>Charities &#8211; A <a href=\"https:\/\/www.ncbi.nlm.nih.gov\/pmc\/articles\/PMC8264282\/#:~:text=A%20group%20of%20beneficiaries%20comprises,who%20devote%20themselves%20to%20philanthropy.\" target=\"_blank\" rel=\"noreferrer noopener\">charitable organization<\/a> can be named as a beneficiary, which can provide tax advantages for the policyholder&#8217;s estate.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">H3: Naming Minors As Beneficiaries<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"628\" height=\"481\" src=\"https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-23.png\" alt=\"\" class=\"wp-image-6375\" srcset=\"https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-23.png 628w, https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-23-300x230.png 300w\" sizes=\"(max-width: 628px) 100vw, 628px\" \/><\/figure>\n\n\n\n<p>Naming <a href=\"https:\/\/www.businessinsider.com\/personal-finance\/should-you-name-minor-child-as-life-insurance-beneficiary\">minors as beneficiaries<\/a> of a life insurance policy can provide financial security for them in the event of the policyholder&#8217;s death.&nbsp;<\/p>\n\n\n\n<p>However, it is important to consider setting up a trust or selecting a guardian to manage the funds until the minor reaches a certain age.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Naming A Charity, Trust, Or Organization As A Beneficiary<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"650\" height=\"427\" src=\"https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-24-650x427.png\" alt=\"\" class=\"wp-image-6376\" srcset=\"https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-24-650x427.png 650w, https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-24-300x197.png 300w, https:\/\/www.insurancereviews.org\/wp-content\/uploads\/2023\/03\/image-24.png 655w\" sizes=\"(max-width: 650px) 100vw, 650px\" \/><\/figure>\n\n\n\n<p>Naming a charity, trust, or organization as a beneficiary can be a meaningful way to support a cause you care about.<\/p>\n\n\n\n<p>It allows you to leave a lasting impact and help ensure the <a href=\"https:\/\/en.m.wikipedia.org\/wiki\/Trust_law\" target=\"_blank\" rel=\"noreferrer noopener\">organization&#8217;s sustainability and continued mission<\/a>.<\/p><div class=\"23b99c2e6ce4f9f8cd1ef508ff557297\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- insurancereviews -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4403462265716663\"\r\n     data-ad-slot=\"5257483432\"\r\n     data-ad-format=\"auto\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/p><\/p>\n<\/div>\n\n\n\n\n<p>When considering naming a beneficiary, it&#8217;s best to consult with legal and financial professionals to ensure your wishes are carried out appropriately.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">To Sum It Up<\/h2>\n\n\n\n<p>What is a beneficiary in life insurance? A beneficiary is the chosen or designated recipient of the death benefit payout from the insured&#8217;s policy. The beneficiary is chosen by the policyholder and can be adjusted at any time during the policy&#8217;s lifetime.<\/p>\n\n\n\n<p>The purpose of life insurance is to extend financial support to the beneficiary after the policyholder&#8217;s death.<\/p>\n\n\n\n<p>Purchasing a life insurance policy will have you choose and name one or more beneficiaries who will receive the death benefit when you are gone.&nbsp;<\/p>\n\n\n\n<p>The beneficiary can be anyone, such as a spouse, child, friend, or charity, and it&#8217;s up to you to decide who will receive the proceeds.<\/p>\n\n\n\n<p>In the event that the beneficiary passes away before you, or if you want to change the beneficiary, you can do so by completing a beneficiary change form with the insurance company.<\/p>\n\n\n\n<p>There are different types of beneficiaries based on the nature of the benefits they receive and the context in which the arrangement is made.<\/p>\n\n\n\n<p>In some cases, such as in community property states or in cases of divorce or remarriage, the rules regarding life insurance beneficiary designations may be more complicated, so it&#8217;s important to consult with an attorney or financial advisor for guidance.<\/p>\n\n\n\n<p>In the event that something happens that will impact your beneficiary, make it a point to do the necessary changes and adjustments needed in your life insurance policy to prevent complications that will prove to be too late to undone.<\/p>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1677848696241\"><strong class=\"schema-faq-question\">What happens if I don&#8217;t have a beneficiary?<\/strong> <p class=\"schema-faq-answer\">In case you haven&#8217;t named a beneficiary\u00a0 yet,\u00a0 the distribution of your assets may be determined by state law.<br\/>Without a named beneficiary, your assets may have to go through the probate process, which can be time-consuming and expensive.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1677848736228\"><strong class=\"schema-faq-question\">H3:2: Can I name a minor as a beneficiary?<\/strong> <p class=\"schema-faq-answer\">You can name a minor as a beneficiary of a life insurance policy, retirement account, or other financial asset.\u00a0<br\/>However, there are some important things to consider and plan for when doing so.<br\/>Firstly, it is important to understand that minors cannot legally own property or receive a payment of assets until they reach the age of majority in their state.\u00a0<br\/>This means that if you name a minor as a beneficiary, you will need to plan for how the assets will be managed and distributed until the child reaches adulthood.<br\/><\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1677848752110\"><strong class=\"schema-faq-question\">H3:3: How do I change beneficiaries on a life insurance policy?<\/strong> <p class=\"schema-faq-answer\">Contact your life insurance company and request a beneficiary change form.<br\/>Fill out the form with the new beneficiary&#8217;s name, contact information, and relationship to you.<br\/>Submit the completed form to your insurance company, along with any required documentation or signatures.<br\/>Make sure to keep a copy of the updated beneficiary designation for your own records.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1677848772143\"><strong class=\"schema-faq-question\">What\u2019s the difference between a revocable and irrevocable beneficiary?<\/strong> <p class=\"schema-faq-answer\">A revocable beneficiary can be changed at any time by the policyholder without needing permission from the beneficiary.<br\/>This type of beneficiary is more flexible and allows the policyholder to make changes as needed.<br\/>An irrevocable beneficiary, on the other hand, cannot be changed without the consent of the beneficiary.<br\/>This one provides more security for the beneficiary, as the policyholder cannot change the designation without their permission.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1677848803424\"><strong class=\"schema-faq-question\">What role does a beneficiary play in estate planning?<\/strong> <p class=\"schema-faq-answer\">Beneficiaries play a crucial role in estate planning as they are the ones who will receive the assets and property according to the wishes of the estate owner.\u00a0<br\/>They may also be involved in the administration of the estate and may need to work with an executor or trustee to ensure that assets are distributed properly.<br\/><\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1677848824659\"><strong class=\"schema-faq-question\">Can I have a beneficiary for my retirement plan?<\/strong> <p class=\"schema-faq-answer\">Yes, you can have a beneficiary for your retirement plan and will receive the assets in your retirement plan upon your death.\u00a0<br\/>This is done by completing a beneficiary designation form provided by your retirement plan administrator. You can name primary and contingent beneficiaries, and you can also update your beneficiary designation at any time if your circumstances change.<\/p> <\/div> <\/div>\n\n\n\n<h2 class=\"wp-block-heading\">FAQ<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">What happens if I don&#8217;t have a beneficiary?<\/h3>\n\n\n\n<p>In case you haven&#8217;t named a beneficiary&nbsp; yet,&nbsp; the distribution of your assets may be determined by state law.<\/p>\n\n\n\n<p>Without a named beneficiary, your assets may have to go through the probate process, which can be time-consuming and expensive.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Can I name a minor as a beneficiary?<\/h3>\n\n\n\n<p>You can name a minor as a beneficiary of a life insurance policy, retirement account, or other financial asset.&nbsp;<\/p>\n\n\n\n<p>However, there are some important things to consider and plan for when doing so.<\/p>\n\n\n\n<p>Firstly, it is important to understand that minors cannot legally own property or receive a payment of assets until they reach the age of majority in their state.&nbsp;<\/p>\n\n\n\n<p>This means that if you name a minor as a beneficiary, you will need to plan for how the assets will be managed and distributed until the child reaches adulthood.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">How do I change beneficiaries on a life insurance policy?<\/h3>\n\n\n\n<ul>\n<li>Contact your life insurance company and request a beneficiary change form.<\/li>\n\n\n\n<li>Fill out the form with the new beneficiary&#8217;s name, contact information, and relationship to you.<\/li>\n\n\n\n<li>Submit the completed form to your insurance company, along with any required documentation or signatures.<\/li>\n\n\n\n<li>Make sure to keep a copy of the updated beneficiary designation for your own records.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">What\u2019s the difference between a revocable and irrevocable beneficiary?<\/h3>\n\n\n\n<ul>\n<li>A revocable beneficiary can be changed at any time by the policyholder without needing permission from the beneficiary.<\/li>\n<\/ul>\n\n\n\n<p>This type of beneficiary is more flexible and allows the policyholder to make changes as needed.<\/p>\n\n\n\n<ul>\n<li>An irrevocable beneficiary, on the other hand, cannot be changed without the consent of the beneficiary.<\/li>\n<\/ul>\n\n\n\n<p>This one provides more security for the beneficiary, as the policyholder cannot change the designation without their permission.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What role does a beneficiary play in estate planning?<\/h3>\n\n\n\n<p>Beneficiaries play a crucial role in estate planning as they are the ones who will receive the assets and property according to the wishes of the estate owner.&nbsp;<\/p>\n\n\n\n<p>They may also be involved in the administration of the estate and may need to work with an executor or trustee to ensure that assets are distributed properly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Can I have a beneficiary for my retirement plan?<\/h3>\n\n\n\n<p>Yes, you can have a beneficiary for your retirement plan and will receive the assets in your retirement plan upon your death.&nbsp;<\/p>\n\n\n\n<p>This is done by completing a beneficiary designation form provided by your retirement plan administrator. You can name primary and contingent beneficiaries, and you can also update your beneficiary designation at any time if your circumstances change.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Financially reviewed by<\/h3>\n\n\n<div class=\"wp-block-post-author-name\">Amber Benka<\/div>\n\n<div class=\"wp-block-post-author-biography\">Amber first started in insurance five years ago. She has had various roles in my career, ranging from customer service, policy servicing, writing policies, creating endorsements, running the customer worker\u2019s comp billing, and even writing about insurance. In addition to being a full-time agent, she also writes insurance content as a hobby.\r\n\r\nAmber&#8217;s license number is 826316.\r\nAgent ID: https:\/\/apps02.ins.pa.gov\/producer\/ilist3.asp\r\nLinkedin: https:\/\/www.linkedin.com\/in\/amber-lynn-benka-abb0a4268\/\r\nFacebook: https:\/\/www.facebook.com\/abenka.valor<\/div>\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>When purchasing a life insurance policy, having to go through the various detailed processes, such as choosing which type and coverage, or calculating premiums,\u00a0 assigning beneficiaries can give you a sense of relief and accomplishment. At last, you can rest assured that you have made one of the wisest financial decisions.\u00a0 Now, exactly what is [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":6372,"parent":6290,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The importance of assigning a Beneficiary [Explained] - Insurancereviews.org<\/title>\n<meta name=\"description\" content=\"In buying life insurance, you certainly want to ensure your loved ones&#039; future and it&#039;s why you will need a beneficiary or two in the event of your passing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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