If you want to set up any other kind of payment option, that’s up to you and the insurance company. As long as whatever arrangements you want to make are legal, companies are usually willing to set them up. However, more than likely, they will charge a bit more for this creative arrangement because they may have to do some legal work.
As a rule, insurance professionals don’t recommend that you make up your own payment options unless you have an attorney review them. The insurance and tax laws include many nuances (and, of course, they’re constantly being revised); you can easily designate a creative payment program without realizing that you’ve created more obstacles for your beneficiaries than you want to. Many attorneys are quite familiar with other ways to designate how your heirs receive your death benefits.
No comments:
Post a Comment