It may be necessary to establish a trust or designate a guardian to manage the funds on behalf of the minors or dependents until they reach a certain age or meet specific criteria. Communication and Documentation: It’s essential to communicate clearly and openly with both primary and contingent...
If you have dependents relying on your life insurance policy for financial support, designating a secondary beneficiary is crucial to ensure their well-being. By naming a secondary beneficiary, you secure a safety net for your loved ones, providing them with financial stability and support in case...