life insurance percentages/beneficiaries

MikeandJess Posted: May 04, 2009 10:32 PM

life insurance percentages/beneficiaries

who is your beneficiary on your life insurance and what are the percentages? I honestly know nothing about this. DH has me as 50% and then has his brothers and sisters as 50%. He chose a plan that is more expensive so that I'd still be getting the same amount that I would be getting if he had the lower plan but he also wants his brothers and sisters to be taken care of. I ask because his sister seemed extremely shocked that I wasn't 100% beneficiary. Sorry if this is worded strangely, I hardly know what I'm talking about

Mici n KC Posted: May 04, 2009 10:34 PM

Re: life insurance percentages/beneficiaries

Well my work policy goes to DH and my sister is my secondary. DH has the same but his mom is the secondary since he has no siblings. Our regular life insurance is for each other and I think my sister and his mother.

MikeandJess Posted: May 04, 2009 10:41 PM

Re: life insurance percentages/beneficiaries

Posted by Mici n KC

Well my work policy goes to DH and my sister is my secondary. DH has the same but his mom is the secondary since he has no siblings. Our regular life insurance is for each other and I think my sister and his mother.

yea I guess ours is a little different. There's no first or 2nd beneficiaries it's out of 100% and he designates percentages to whoever he wants.

Mici n KC Posted: May 04, 2009 10:48 PM

Re: life insurance percentages/beneficiaries

Posted by MikeandJess

Posted by Mici n KC

Well my work policy goes to DH and my sister is my secondary. DH has the same but his mom is the secondary since he has no siblings. Our regular life insurance is for each other and I think my sister and his mother.

yea I guess ours is a little different. There's no first or 2nd beneficiaries it's out of 100% and he designates percentages to whoever he wants.

I don't remember having that as an option, but I could be wrong. This how we have ours set up though.

bensgirl Posted: May 05, 2009 07:46 AM

Re: life insurance percentages/beneficiaries

i am the beneficiary on DH's life insurance (100%) and he is on mine as well. on my retirement account, DH is my primary and my mom and brother are secondary. DH just added me as the only beneficiary on his retirement account.

Autumn08 Posted: May 05, 2009 07:55 AM

Re: life insurance percentages/beneficiaries

We are 100% for each other. Goodness forbid something happened there's money left over after the funeral to pay bills.

RadiantBride Posted: May 05, 2009 09:00 AM

Re: life insurance percentages/beneficiaries

I havent switched mine, my parents are primary then my nephew. I think DH (which was BF or Fiancee then is after my brother). I am going to switch it though so it could be DH and my parents.

teenigrrl Posted: May 05, 2009 09:03 AM

Re: life insurance percentages/beneficiaries

DH is my primary beneficiary on all retirement and life insurance i have, and i'm his primary beneficiary. he has his brother listed as his contingent beneficiary, i still have my dad named as my contingent beneficiary. once the baby is born, she will be our contingent beneficiary on everything, with us remaining as each other's primary beneficiary.

lizzie217 Posted: May 05, 2009 09:29 AM

Re: life insurance percentages/beneficiaries

Before marriage I had my brother and cousin and my brother had me 100% . DH had his sister

Now I have DH 100% and he has me 100 % and my brother I believe put his wife 100%

SusiBtoM Posted: May 05, 2009 09:33 AM

Re: life insurance percentages/beneficiaries

Dh is my prmary beneficiary, my dad is my secondary. Should my father pass away before me, then DH becomes 100% my beneficiary. If I pass away before my dad, then I want to make sure that my dad is well taken care of.
I am DH's beneficiary, 100%.

bluekat16 Posted: May 05, 2009 09:49 AM

Re: life insurance percentages/beneficiaries

DH is the 100% beneficiary on my life insurance, on my retirement accounts I have my 3 nieces, I haven't changed it yet, but plan on making DH the 100% beneficiary at some point. I'm DH's 100% beneficiary on everything.

flairforfashion Posted: May 05, 2009 09:53 AM

Re: life insurance percentages/beneficiaries

I work for MetLife. I can explain this...

Usually, you pick a primary which usually is one or two people but really, can be any amount.

Lets say you pick three primaries, percentage would be approx 33%.

Usually though, for a primary, you would choose one. Then for a contingent, you can select one, two, three or whatever amount.

MnM182008 Posted: May 05, 2009 10:26 AM

Re: life insurance percentages/beneficiaries

DH and I both took out life insurance after we got married, a small amount to bury one another (god forbid) and pay off bills we have. We are each others beneficiary. If something were to happen to both of us, I left my policy to my brother and he left his policy to be split equally between his brother and and two sisters. Obviously when we have children our policies will be left to them.

MJDoc12 Posted: May 05, 2009 10:29 AM

Re: life insurance percentages/beneficiaries

I am 100% beneficiary on all my DH's policies and vice versa

jaep129 Posted: May 05, 2009 12:12 PM

Re: life insurance percentages/beneficiaries

I have two and my mom and sister are 50/50. I never changed it. Once I do change it DH will be 100%. I dont see a need to have my mom and sister since I am married and live with DH not them.