The following is my answer to a Quora question: “Should you name your trust as a beneficiary of your life insurance?”
You do such a thing when you do not
intend your policy to pay out in lump sum to your beneficiaries, or to your
estates, if you have not nominated any beneficiaries. People name their trust the beneficiaries of
their life insurance when they intend for the trust to pay out over an extended
period of time, perhaps across multiple beneficiaries. This would be the only reason why you would
want your insurance policy to pay out to your trust.
No comments:
Post a Comment
Thank you for taking the time to share our thoughts. Once approved, your comments will be poster.