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Can contract benefits be transferred if the contract benefits are not used by the designated beneficiary?

April 26, 2017Beneficiary Benefits contract designated transferred Used

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Can contract benefits be transferred if the contract benefits are not used by the designated beneficiary?

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A. The PACT contract can be transferred to a member of the immediate family of the beneficiary. Alternatively, you may want to retain your contract because the beneficiary has 10 years after high school graduation to utilize contract benefits.