Can children be named as beneficiaries of a life insurance policy?
Yes, but he stressed that it should be done through a will. The legal documents should appoint an executor to manage the money and a guardian to take care of the kids. 7) Why should I care if a company charges sales commission? This one is pretty obvious but I asked it anyways because it was on the list. Sales commission will make your premiums higher. If you have a policy that builds value over time it will take longer to accumulate money Should I buy life insurance on my children? People do this for two reasons. The first is to help through a transitional stage in the horrible event you do lose a child. The second is to lock in life insurance at a low rate for your kids. Of course the insurance agent ended by asking if I was ready to start the application process for a life insurance policy. I thanked him for his time and said I’d look into it. Now that I’ve heard the answers from the insurance company’s point of view my next step will be to go to an independent third party to resear
