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Naming A Beneficiary For Your Life Insurance Policy

Different Types Of Beneficiary Designations May Be Combined

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For example, you may have joint beneficiaries as well as contingent beneficiaries named if something happens to one or all joint beneficiaries. You may name an irrevocable beneficiary for only a portion of the proceeds.

Combinations can become complicated. If a combination is of interest to you, we encourage you to seek the advice of a qualified attorney. It is worth keeping in mind that the more complicated the definition and the more beneficiaries involved, the greater the chance that someone will contest the designations.

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