Who Should Be My Life Insurance Beneficiary?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    The person you choose to be your life insurance beneficiary should be someone you trust to spend the money as you would desire. If you are purchasing life insurance so that it will cover your final expenses, you should name a beneficiary who will be involved in your funeral arrangements, and can be relied upon to pay for your final expenses in a timely manner. If you are leaving money for minor children, the beneficiary could be your spouse or a parent who will use that money in the best interest of your children. Or you could form a trust that details how you want the money spent, and make the trust the beneficiary.
    Answered on June 7, 2013
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