If you've been a long time fan or client of wt360 you know we called for the coldest Summer in 5 years and wet-no drought in our forecast for the Eastern half of the U.S. this Summer. Hopefully that gives you a little hope that they can be totally wrong and not to panic on the Winter just yet.
A beneficiary is the person or entity you name in a life insurance policy to receive the death benefit. If you donât name a beneficiary, the death benefit will be paid to your estate. Two âlevelsâ of beneficiaries. Your life insurance policy should have both âprimaryâ and âcontingentâ beneficiaries. The primary beneficiary gets the death benefits if he or she can be found after your death. Contingent beneficiaries get the death benefits if the primary beneficiary canât be found.
Beneficiaries are those who inherit from you, and they can do so in a number of ways. You might designate someone to receive your retirement account, investment account or life insurance proceeds.You can name a beneficiary in your will or trust to take some or all of your estate when you die.But there are two kinds of beneficiaries -- contingent and primary -- and if you name someone as a contingent beneficiary, he may never inherit anything from you at all.our primary beneficiary is the individual you designate to receive an asset or gift from your estate at the time of your death. If he outlives you and you donât change your estate plan to name someone else, heâs guaranteed to receive this inheritance.