• 15
  Apr
  2010

• Who Will Benefit When You Die? Term Life Insurance Options

  
  Filed Under: Blogging
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For expats looking for reliable term life insurance, the IC+ Term Life Insurance plan offers a range of benefits. Many insurance companies will not insure a person living outside the United States, but the IC+ plan is especially designed to work internationally, and is valid even when the insured travels outside his/her adopted home.

Beneficiaries of the plan are usually specified during the application process itself. Read the application form carefully, and ensure that you fill in the correct beneficiary information. If you want all the benefits to go to one person, designate that person as the primary beneficiary. You can also specify multiple primary beneficiaries. You might want to opt for this in case you have children whom you’d like to designate as beneficiaries.

However, remember that if your children are minors, the benefit will be paid to their legal guardian. In the IC+ plan, you can also specify the share of each beneficiary so that you can tailor the insurance payout according to your wishes. If you do not specify shares, all your beneficiaries will share the benefits equally.

While there are options even when no beneficiaries are listed or when no listed beneficiaries survive, it is always best to fill in all the required information in the application form and ensure that the information is up-to-date, especially in matters of life insurance.