Selecting one or more beneficiaries for your life insurance policies is an important decision. The beneficiary is the person or entity that you name to receive the financial benefits from your life insurance policies upon your death. Your NJ agent may be able to help you make the right choice based on your situation. It is vital that you review your life insurance policies as circumstances in your life change, and contact your agent to make any adjustments you deem necessary.  

Logically choices for beneficiaries include your spouse, children and other dependents or family members. You may also consider leaving life insurance benefits to your church, alma mater or a charity. The important thing is that you specify clearly how the death benefit should be distributed.

You may want to name a both a primary and a contingent beneficiary. The primary beneficiary is whom you name to receive your life insurance benefits. The contingent beneficiary is someone you name to receive the benefits in the event your primary beneficiary cannot be located or has passed away.

It is important that you clearly identify your beneficiaries for your insurance company, and obtain their Social Security numbers if possible. The easier you make it for your NJ agent to track down your beneficiaries, the smoother the process may be of distributing life insurance proceeds to your heirs.

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