Beneficiary New York

The beneficiary is the person that receives money or some other form of assets, usually when someone dies. The person or person may be named as the beneficiary of a life insurance policy or as a beneficiary of a will or trust.


1 . Local Companies

Mr. Monroe M. Diefendorf (RFC®), CFP, CHFC, CLU
516 759 3900
152 Forest Ave.
Locust Valley, NY
Mr. Jesse B. Mackey (RFC®), MBA
516 677 5034
80 Crossways Park West
Woodbury, NY
Allstate Auto Insurance
(888) 355-7971
40 Pine St
Ilion, NY
Allstate Auto Insurance
(888) 355-7971
3886 Merrick Rd
Seaford, NY
Allstate Auto Insurance
(888) 355-7971
198 Montauk Hwy
Westhampton, NY
Mr. Dennis J. Hebert (RFC®), CFP, CHFC, CLU, MSFS
315 234 7526
209 Second Street
Liverpool, NY
Thomas P. Gallo (RFC®), CPA, CPAPFS
516-877-1900 x 212
485 Jericho Tpke., Ste. 200
Mineola, NY
Allstate Auto Insurance
(888) 355-7971
31 W Merrick Rd
Freeport, NY
Allstate Auto Insurance
(888) 355-7971
17 S Main St
Pittsford, NY
Allstate Auto Insurance
(888) 355-7971
300 Hempstead Tpke
West Hempstead, NY
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2 . Choosing the Beneficiary of Your Life Insurance Policy

Whether you personally take out a life insurance policy or receive one as part of your benefit package at work, it is important to carefully consider who you will choose to receive the proceeds of your life insurance policy upon your death. Many people choose their spouse or their children to be their beneficiaries; some choose charitable organizations and some have even chosen their pets!

Beneficiaries of life insurance policies are able to collect the money without going through probate; the legal process that takes place in court before the estate can be divided. Beneficiaries of life insurance policies only have the life insurance company to deal with; they don't have to go to court at all. Beneficiaries of life insurance policies can often receive the proceeds of the policy within 3 or 4 weeks; assuming all the paperwork is in order and the life insurance company has received all the requested documentation.

Once you do choose the beneficiary of your life insurance policy, it's important to keep this information up-to-date, as circumstances in your life may change and you may want to change the beneficiary. This is easy to do; you simply fill out another form and send it to the life insurance company or give it to the benefits director at your place of employment.

3 . Choosing More than One Beneficiary

You want to make sure that the people you intend to receive your life insurance proceeds after your death are indeed the ones that receive the money. You can choose multiple beneficiaries; in fact, this is preferable to simply choosing one beneficiary and then asking that person to see to it that others get a portion of the proceeds. By choosing all your beneficiaries yourself, you can be assured that your life insurance proceeds will be distributed in exactly the way that you want them to be.

When you name more than one person as beneficiary to your life insurance policy, it is important that you ascertain which percentage of the proceeds should go to which individual. For example, you may have 2 children that you want to equally share the proceeds; in this case, you would allocate 50% to one child and 50% to the other. However, there may be a spouse that you would like to allocate 50% to and then equally divide the other 50% to both children, which would mean that you would allocate 50% to your spouse and then 25% to each of your children.

You should be very specific when allocating the proceeds of your life insurance policy to your beneficiaries. Whether you have 2 or 10 beneficiaries, by allocating a certain percentage to each one, there will be no question as to your intentions. The life insurance company will pay the claim as it is written and it is up to you to make sure that that accurately reflects your intentions.

Keep in mind that if you don't designate a certain percentage of your life insurance proceeds to go to each beneficiary, your life insurance company will likely distribute the proceeds equally. This is important to know because if you intend for 10% of your insurance proceeds to go to your church or a charitable organization and the rest to your spouse or child, you must put that in writing or all beneficiaries will share equally.

4 . Changing Your Beneficiary

This step is sadly overlooked far too often by people who think they have years left to live and will "get around" to it. However, as stated above, your life insurance company will distribute the proceeds of your policy the way that you have instructed them to; not the way that you intended to instruct them. You should make it a habit to go over any beneficiary designations that you have once a year to make sure that the way it is on paper is still the way that you want your proceeds to be divided in the event of your death.

If you should change your mind about naming someone as beneficiary of your life insurance policy, you don't have to worry that they may be contacted. You simply fill out a new beneficiary designation form, make a copy for your records and see that the appropriate person or agency receives the form. You should never designate someone as a beneficiary because you feel pressured to or keep someone as your beneficiary when you have moved on.
Regional Articles
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- Beneficiary Baldwinsville NY
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- Beneficiary Bay Shore NY
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- Beneficiary Bronx NY
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- Beneficiary Camillus NY
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- Beneficiary Centereach NY
- Beneficiary Central Islip NY
- Beneficiary Clifton Park NY
- Beneficiary Cohoes NY
- Beneficiary College Point NY
- Beneficiary Commack NY
- Beneficiary Copiague NY
- Beneficiary Coram NY
- Beneficiary Corning NY
- Beneficiary Corona NY
- Beneficiary Cortland NY
- Beneficiary Cortlandt Manor NY
- Beneficiary Deer Park NY
- Beneficiary Delmar NY
- Beneficiary Depew NY
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- Beneficiary East Amherst NY
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- Beneficiary East Elmhurst NY
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- Beneficiary East Meadow NY
- Beneficiary East Northport NY
- Beneficiary East Setauket NY
- Beneficiary East Syracuse NY
- Beneficiary Elmhurst NY
- Beneficiary Elmira NY
- Beneficiary Elmont NY
- Beneficiary Endicott NY
- Beneficiary Fairport NY
- Beneficiary Far Rockaway NY
- Beneficiary Farmingdale NY
- Beneficiary Farmingville NY
- Beneficiary Floral Park NY
- Beneficiary Flushing NY
- Beneficiary Forest Hills NY
- Beneficiary Franklin Square NY
- Beneficiary Fredonia NY
- Beneficiary Freeport NY
- Beneficiary Fresh Meadows NY
- Beneficiary Fulton NY
- Beneficiary Garden City NY
- Beneficiary Glen Cove NY
- Beneficiary Glen Oaks NY
- Beneficiary Glens Falls NY
- Beneficiary Gloversville NY
- Beneficiary Great Neck NY
- Beneficiary Hamburg NY
- Beneficiary Hauppauge NY
- Beneficiary Hempstead NY
- Beneficiary Hicksville NY
- Beneficiary Hilton NY
- Beneficiary Holbrook NY
- Beneficiary Hollis NY
- Beneficiary Hopewell Junction NY
- Beneficiary Horseheads NY
- Beneficiary Howard Beach NY
- Beneficiary Huntington NY
- Beneficiary Huntington Station NY
- Beneficiary Islip NY
- Beneficiary Ithaca NY
- Beneficiary Jackson Heights NY
- Beneficiary Jamaica NY
- Beneficiary Jamestown NY
- Beneficiary Kew Gardens NY
- Beneficiary Kings Park NY
- Beneficiary Kingston NY
- Beneficiary Lancaster NY
- Beneficiary Larchmont NY
- Beneficiary Latham NY
- Beneficiary Levittown NY
- Beneficiary Lindenhurst NY
- Beneficiary Little Neck NY
- Beneficiary Liverpool NY
- Beneficiary Lockport NY
- Beneficiary Long Beach NY
- Beneficiary Long Island City NY
- Beneficiary Lynbrook NY
- Beneficiary Mahopac NY
- Beneficiary Malone NY
- Beneficiary Mamaroneck NY
- Beneficiary Manhasset NY
- Beneficiary Manlius NY
- Beneficiary Maspeth NY
- Beneficiary Massapequa NY
- Beneficiary Massapequa Park NY
- Beneficiary Massena NY
- Beneficiary Mastic NY
- Beneficiary Melville NY
- Beneficiary Merrick NY
- Beneficiary Middle Village NY
- Beneficiary Middletown NY
- Beneficiary Mineola NY
- Beneficiary Monroe NY
- Beneficiary Monsey NY
- Beneficiary Mount Kisco NY
- Beneficiary Mount Vernon NY
- Beneficiary Nanuet NY
- Beneficiary New City NY
- Beneficiary New Hartford NY
- Beneficiary New Hyde Park NY
- Beneficiary New Paltz NY
- Beneficiary New Rochelle NY
- Beneficiary New Windsor NY
- Beneficiary New York NY
- Beneficiary Newburgh NY
- Beneficiary Niagara Falls NY
- Beneficiary North Babylon NY
- Beneficiary North Tonawanda NY
- Beneficiary Nyack NY
- Beneficiary Oakland Gardens NY
- Beneficiary Oceanside NY
- Beneficiary Ogdensburg NY
- Beneficiary Olean NY
- Beneficiary Oneonta NY
- Beneficiary Orchard Park NY
- Beneficiary Ossining NY
- Beneficiary Oswego NY
- Beneficiary Ozone Park NY
- Beneficiary Patchogue NY
- Beneficiary Pearl River NY
- Beneficiary Peekskill NY
- Beneficiary Penfield NY
- Beneficiary Pittsford NY
- Beneficiary Plainview NY
- Beneficiary Plattsburgh NY
- Beneficiary Port Chester NY
- Beneficiary Port Jefferson Station NY
- Beneficiary Port Washington NY
- Beneficiary Potsdam NY
- Beneficiary Poughkeepsie NY
- Beneficiary Queens Village NY
- Beneficiary Queensbury NY
- Beneficiary Rego Park NY
- Beneficiary Rensselaer NY
- Beneficiary Richmond Hill NY
- Beneficiary Ridgewood NY
- Beneficiary Riverhead NY
- Beneficiary Rochester NY
- Beneficiary Rockaway Park NY
- Beneficiary Rockville Centre NY
- Beneficiary Rome NY
- Beneficiary Ronkonkoma NY
- Beneficiary Roosevelt NY
- Beneficiary Rosedale NY
- Beneficiary Rye NY
- Beneficiary Saint Albans NY
- Beneficiary Saint James NY
- Beneficiary Saratoga Springs NY
- Beneficiary Saugerties NY
- Beneficiary Sayville NY
- Beneficiary Scarsdale NY
- Beneficiary Schenectady NY
- Beneficiary Selden NY
- Beneficiary Shirley NY
- Beneficiary Smithtown NY
- Beneficiary South Ozone Park NY
- Beneficiary South Richmond Hill NY
- Beneficiary Spencerport NY
- Beneficiary Spring Valley NY
- Beneficiary Springfield Gardens NY
- Beneficiary Staten Island NY
- Beneficiary Stony Brook NY
- Beneficiary Suffern NY
- Beneficiary Sunnyside NY
- Beneficiary Syosset NY
- Beneficiary Syracuse NY
- Beneficiary Tarrytown NY
- Beneficiary Tonawanda NY
- Beneficiary Troy NY
- Beneficiary Uniondale NY
- Beneficiary Utica NY
- Beneficiary Valley Stream NY
- Beneficiary Vestal NY
- Beneficiary Wantagh NY
- Beneficiary Wappingers Falls NY
- Beneficiary Watertown NY
- Beneficiary Watervliet NY
- Beneficiary Webster NY
- Beneficiary West Babylon NY
- Beneficiary West Hempstead NY
- Beneficiary West Islip NY
- Beneficiary Westbury NY
- Beneficiary White Plains NY
- Beneficiary Whitestone NY
- Beneficiary Woodhaven NY
- Beneficiary Woodside NY
- Beneficiary Wyandanch NY
- Beneficiary Yonkers NY
- Beneficiary Yorktown Heights NY
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