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Naming Multiple Life Insurance Policy Beneficiaries

One of the most important steps in setting up your term life insurance policy is naming your beneficiary. This beneficiary is the individual who will receive the policy’s benefits (money payout) upon your death.

While you must name at least one beneficiary for your policy, it’s possible to go above and beyond, naming multiple people on your life insurance policy. This ensures that your death benefit goes to a meaningful individual (or organization) even if your primary beneficiary precedes you in death.

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