032123 Tips to Avoid Delays in Your Life Insurance Claim...

1. Make Sure Your Beneficiaries are Current.

I received a call from a client recently concerning her mother-in-law

Who had passed. The primary beneficiary pre deceased the insured.

No contingent beneficiary was named therefore this held up claim

Payment.

Policy-owners can name anyone as a beneficiary, from their spouse,

Or ex-spouse, to children, siblings, parents, business partners,

A charitable organization or a trust.

Policy-owners may also designate a contingent beneficiary.

This person or entity is a secondary recipient of the life insurance

Policy payout.

The contingent beneficiary will receive the death benefit if the primary

Beneficiary dies or cannot be found before the policy pays out.

Beneficiary designations need to be very clear and follow the

Requirements of the life insurance policy.

2. Do Not Name a Minor.

When an insured lists a minor as a beneficiary, a life insurance claim

May be delayed, because a child who hasn’t reached the age of majority

Cannot receive the proceeds without a guardian.

3. Always Name a Beneficiary.

When no beneficiary is named on the policy, the life insurance proceeds

Will go to the estate or be distributed to the next of kin.

You will receive the full death benefit if you are the sole beneficiary.

If there are multiple beneficiaries, each will get their allocated share.

An improper beneficiary designation or change can lead to beneficiary

Disputes which will cause payout delays.

* Some insurance companies allow you to name the funeral

Home as beneficiary for your convenience. A second beneficiary

Named would receive any remaining proceeds after payment has been

Made to the funeral home.

Contact Me Today!

Hayden Childs

Independent Insurance Agent

(205) 269-1382

shcmail34@yahoo.com

www.haydenchilds.net

Been Turned Down for Life Insurance?

Due to health or other concerns…

* Guaranteed Issue Term Life Insurance

Ages 18-75 up to 50 K of coverage.

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Apply online today!

https://protectionpluslife.com/m/RexChilds

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“The Grief is bad enough,

Don’t leave the burden

To YOUR family!”

Comments

083121 Do You Know the Whole Life Story?

Change comes at us from every angle as people update and upgrade everything from their diets to their devices, seemingly every day. When we enter adulthood as a young professional, we never imagine that we are only a couple dozen phones or a handful of trendy diets from marriage, parenthood or even retirement. Diets and devices can be great, but not all change is good, right? At every stage of life, financially confident people know that they can embrace the good and safeguard against the not-so-good with solutions designed to do just that. Enter: whole life insurance. Not just your parents’ insurance, whole life can actually benefit you no matter where you are in life. THE BEGINNING: YOUNG PROFESSIONALS When we’re young and focused on our dreams, we rarely consider the possibility of an unexpected, devastating change. What would happen if you died prematurely? It may be unsettling to think about, as it would be very painf...

101724 What Cancer Cannot Do...

“Cancer can take away All of my physical abilities. It cannot touch my mind, It cannot touch my heart, And it cannot touch my soul.” Coach Jim Valvano *** What Cancer Cannot Do Cancer Is So Limited Cancer Cannot… Cripple love! Corrode faith! Eat away peace! Kill friendship! Silence courage! Invade the soul! Quench the spirit! Destroy confidence! Reduce eternal life! Erase the promises of God! Obliterate happy memories! Shatter the hope of Heaven! Lessen the power of the resurrection! Keep the faithfully obedient from Heaven! - Dr. Robert L. Lynn *** To all walking this road… Blessings and love. Cancer took away from me Two special ladies in my life. My mother and mother-in-law; Knowing I will see them again And knowing they are in a Better place gives me hope And comfort. - Hayden Childs *** Don’t worry your life away Waiting for the elusive prize At journey’s end. The journey is the prize. - Marsha Mercan *** In this world it is not what we take up, but what we give up, that make...

080822 Less Common Life Insurance Needs

On top of the most common reasons for buying life insurance, It can help cover some less common needs. These could include… *Insuring Children Buying a policy on a child can ensure that the family will financially Survive the loss of the child, but keep in mind that such a loss is Fairly unlikely. It can also ensure the child’s ability to qualify for life Insurance in the future. That could be helpful in the case of a health Diagnosis that might make it harder to pass the underwriting process. *Replacing Retirement Benefits Life insurance is often marketed as income replacement for an Insured person during their working years, but some retirees may Choose to keep theirs after leaving work. It can be used to replace The loss of any retirement income for their spouse or any dependents. *Investment Permanent life insurance can provide you with a potential income Source. You can access your cash value once it has buil...

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