2224: Life Insurance Beneficiary by Jeff Rose

Optimal Finance Daily - Financial Independence and Money Advice

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Investing, Self-improvement, Education, Business

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🗓️ 3 March 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jeff Rose talks about life insurance beneficiaries Episode 2224: Life Insurance Beneficiary by Jeff Rose Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance book Soldier of Finance. Jeff is an Iraqi combat veteran and served 9 years in the Army National Guard. His work is regularly featured in Forbes, Business Insider, Inc.com and Entrepreneur. The original post is located here: https://www.goodfinancialcents.com/beneficiary-review-designation-form-life-insurance-retirement-accounts/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, Episode 2224.
0:04.8	Life Insurance Beneficiary by Jeff Rose of GoodFinancialSense.com
0:10.1	And I'm your host and personal finance enthusiast, Diana Mariam.
0:14.3	Welcome back to Optimal Finance Daily, where I'm here with you each and every day to read
0:19.3	from some of the world's best finance blogs.
0:22.5	And with that, let's get right to today's article as we optimize your life.
0:31.0	Life Insurance Beneficiary by Jeff Rose of GoodFinancialSense.com
0:37.0	When choosing a life insurance beneficiary, it's very important to be clear on the designations
0:42.3	of who's going to receive the benefits after the death of the insured.
0:46.8	Due to specifications regarding the wording of beneficiaries, certain members of the family
0:51.7	may be left out, while others may be unintentionally included.
0:56.7	It becomes especially complicated when there's an ex-spouse involved or adopted children.
1:02.5	Should the beneficiary die before the insured, then a contingent receives the benefits
1:07.4	instead.
1:08.4	However, this can become complicated if the contingent is a minor and no guardian has
1:13.5	been designated.
1:15.2	The process of determining insurance beneficiaries can be complicated, especially given the
1:20.4	changing family situations that happen with divorce and death.
1:24.8	When deciding on your insurance beneficiaries, make sure the beneficiaries are clearly
1:29.5	distinguished with varying levels of contingents.
1:34.1	Specifying your beneficiaries.
1:37.4	When writing out who will receive life insurance benefits upon your death, simply putting one
	...

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