October 30th, 2008
Who do you want ot benefit from your life insurance
Both my wife and I had been married before. We came into our marriage with a small nest egg and as each of us had whole of life insurance policies we knew we were well covered in case of an emergency. Over the years we continued to pay on our policies and then one day we went to an estate planning lecture to see if there was anything we missed. One of the things that was pointed out to us was that in the case of second marriages and insurance policies it is a good idea to check the beneficiaries. If either of us had died before that our former spouses would have gotten the money.