How to Pick a Life Insurance Beneficiary

Video Transcript

"Hello, my name is Vic Schumacher with HPE Financial Services. I'm an insurance broker with health insurance and life insurance and annuities. Today we're going to talk about how to select your beneficiary for a life insurance policy. The beneficiary is the person who receives the funds from that policy in the event that you die. You can have more than one beneficiary, you can have two or three. And the dollar amount from the funds from that policy would be divided equally among those beneficiaries. If you decide that the beneficiary should be an older person or a younger person, that's strictly up to you. You can make that beneficiary do a variety of things, you can even have that beneficiary be a business, it can be a charity, it can be your church. A beneficiary is nothing more than the contact source as to where the funds from this policy will be sent. My name is Vic Schumacher, HPE Financial Services, helping people every day."