The Importance of Beneficiaries | Have You Planned Ahead?

On today's episode, Darren and Christina break down everything that has to do with beneficiaries and how/why you need to name one in your policy! They also chat about different types of beneficiaries and how they work depending on the type of policy you have. Tune in now! Show notes: 00:00 - Introduction 00:45 - What is a beneficiary and why should I name one? 2:40 - What happens when the beneficiary is the estate? 5:30 - What is a contingent beneficiary? 6:35 - Revocable vs. irrevocable beneficiary 8:05 - Can you name a minor as a beneficiary? 9:10 - Corporate policies and beneficiaries 10:40 - Beneficiary on critical illness policy (why you should use them) 11:45 - How does a beneficiary come into play when it comes to creditor protection? 13:20 - Beneficiaries on other types of products 14:40 - How to check in and potentially update my beneficiary TAKE CONTROL OF YOUR MONEY NOW: https://www.controlandcompound.com/contact-us FIND US ON: INSTAGRAM: https://www.instagram.com/controlandcompound/ TIKTOK: https://www.tiktok.com/@controlandcompound?lang=en FACEBOOK: https://www.facebook.com/controlandcompound JOIN OUR FACEBOOK COMMUNITY: https://www.facebook.com/groups/controlandcompound