Leigh Insurance Agency of St Augustine Blog
As you begin to plan for your death, you should develop an estate plan that allows you to identify beneficiaries. If you are a parent, you will most likely wish to designate your kid as the beneficiary, believing they will have a secure future.
However, naming a child as a beneficiary on a life insurance policy might result in severe issues. And here are the reasons why:
Alternatives to Naming Your Minor as Beneficiary
Don't be disheartened if you can't directly designate your child as a beneficiary on your insurance policy; there are other alternatives to assist them in protecting their future:
It may be tempting to name your kid as your beneficiary, but the consequences may cause problems for your child. Instead, consider alternatives such as establishing trust and naming a trusted adult as your beneficiary.
At Leigh Insurance Agency, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (904) 826-0799. Get your free quote today by CLICKING HERE. Any coverage discussed is not guaranteed. Contact us today to go ove