Can A Minor Receive Life Insurance Proceeds?
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63333 POINTSview profilePeggy MaceMost of the U.S.A minor can receive life insurance proceeds, but if a competent adult to manage their money is not named in your will, trust, or under your state's UTMA, a property guardian may be designated by the court to manage their money for them until they become adults.Answered on July 2, 2013flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question. The answer will depend upon whether your policy allows it, some companies will require a beneficiary that is of legal age. Others will require that the benefit be paid into a trust, or that there be a guardian to manage the funds. Check with your agent to be sure. Thank you for asking!Answered on May 14, 2014flag this answer
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