Contingent Beneficiary of life insurance -What you need to know
Simply said, a beneficiary of life insurance quota is someone you name that will receive the insurance proceeds if your beneficiary dies before you or die along with you.
for example, if John Doe dies before me, the benefits should be paid to my son, James Smith and daughter Jane Smith equally.
Is it important to have a beneficiary of life insurance quota? Yes because you clearly state your wishes and there is no room for uncertainty.
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