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Death Benefit Beneficiaries Explained — Primary vs Contingent, Who Gets Paid First
Naming your life insurance beneficiaries is a two-layer process — and skipping one layer can send your death benefit straight to probate 💡 The PRIMARY beneficiary is the first person or entity in line to receive the death benefit when the insured dies. Usually a spouse, adult child, business partner, or trust. The CONTINGENT (secondary ...
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