Can A Minor Be Beneficiary For Life Insurance?

1. 

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   Kelly Moser

   Social Media Strategist, Disability Insurance Services, California

   That's a tricky question.  Yes, but it would have to be put into a trust for the minor until that child turns 18. It doesn't mean they don't have access to the money, they would just have to go through their guardian until they reach the legal age that would allow them to pull from the trust.

   Answered on September 18, 2013

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2. 

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   Peggy Mace

   Most of the U.S.

   Yes, a minor can be beneficiary for life insurance. However, if the proceeds are received prior to the legal age of becoming an adult (either age 18 or 21, depending on the state), the court will usually appoint a guardian to handle the child's life insurance payments for them. Or, relatives may have to spend the time and money to appoint a guardian. If leaving life insurance to a child, it is best to have that set up ahead of time.

   Answered on September 18, 2013

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