Owning a Policy
Beneficiary Mistakes to Avoid
The beneficiary errors that delay or redirect life insurance money, sorted by how often they happen and how costly they are.
The sheet in words
Up is more common (shows up all the time); down is less common (shows up less often). Left is easier cleanup (a form fixes it); right is costlier mistake (money delayed or lost).
Not Updated After Death
Old plan may no longer fit
Ex-Spouse Still Listed
Money can go to the wrong person
No Contingent Named
No backup if the first one is gone
Minor Named Directly
A court may need to step in
Per Stirpes Mix-Ups
Wording decides how shares split
Naming Your Estate
Can add delay and probate
Named Person on Benefits
A lump sum can affect eligibility
Your beneficiary form usually beats your will. Check it, name backups, and ask a pro about minors.
Education only, not investment, tax or legal advice. Beneficiary rules, probate and trust options vary by state and by policy. Placements show typical patterns, not what will happen to you. Ask an attorney about minors, special needs and per stirpes wording. Sony Ho, Licensed Life Insurance Agent, NPN 18171750 · wealthprohi.com/check
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