Plain Language Guide to Life Insurance Questions
A public explainer from the American Council of Life Insurance outlines why life policies use legal wording and how contingent beneficiaries work. It clarifies that proceeds go to the contingent beneficiary if the primary beneficiary is dead, or to the estate if none exists, and offers a pamphlet for further plain language explanations.
MENTIONED IN THIS ARTICLE
The
American Council of Life Insurance
Department 7
Park Avenue
New York
N.Y
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