More about it…
If you have young Children, you may wonder if life insurance can be left to a minor. The answer is yes, but there are some things you need to know about this process. In most cases, life insurance policies can be left to a minor without complications. The life insurance company will typically name the child’s legal guardian as the beneficiary of the policy so that they can manage the funds on behalf of the child until he or she reaches 18 years of age. However, state laws vary. So you will need to check with the life insurance company and your state of residence to understand any special requirements that must be met. The life insurance company can provide more information about this process and how it works in your state.
We’d be happy to review your insurance coverage options with you! Give us a call at 888-824-1144 or visit https://trueclassicwealth.com.