I am filling out Life Insurance Enrollment Form. Can I make my 17 year old daughter the primary beneficiary? Or does the primary need to be 18?
Total Comments: 2
Posted: Sat May 21, 2011 05:13 am Post Subject:
I guess you'll need to mention a trustee in the event you wish to add someone below 18 as your beneficiary. The trustee will be managing the policy proceeds on behalf of your under-aged primary beneficiary. In case, you don't select a trustee, your policy proceeds will go to a trust appointed by the govt.
Posted: Sun May 22, 2011 04:25 pm Post Subject: insurance
ALOT of people helped me with a similiar issue!! :D You REALLY need to make someone 'primary' who is 18 years or older. (My personal note..) Mak sure the 'primary' is someone you really trust!! Your 'primary' is he one who wuld be putting money into a trustfund for your minor child and is the one wo will handle expenses.
Posted: Sat May 21, 2011 05:13 am Post Subject:
I guess you'll need to mention a trustee in the event you wish to add someone below 18 as your beneficiary. The trustee will be managing the policy proceeds on behalf of your under-aged primary beneficiary. In case, you don't select a trustee, your policy proceeds will go to a trust appointed by the govt.
Posted: Sun May 22, 2011 04:25 pm Post Subject: insurance
ALOT of people helped me with a similiar issue!! :D You REALLY need to make someone 'primary' who is 18 years or older. (My personal note..) Mak sure the 'primary' is someone you really trust!! Your 'primary' is he one who wuld be putting money into a trustfund for your minor child and is the one wo will handle expenses.
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