You name a beneficiary when you purchase a life insurance policy. This designation lets the insurance company know who should receive the proceeds of the policy. Keeping your beneficiary designation current is key to ensuring your life insurance benefits are paid as you desire. By not updating your beneficiary designation, your benefits may go to your estate instead of to those who need it the most.
After the loss of a loved one, it can be a challenge to locate a life insurance policy … or even know if one exists. After all, it may have been issued 40 to 50 years ago. Here are tips to help find out if your loved one had an active life insurance policy or annuity contract.
What traits define a key employee? Key employees may be highly paid, responsible for management decisions, engender a special rapport with customers and creditors or produce a significant impact on sales. A business may have an insurable interest in key employees based on their level of influence on the business’ success.
