Published 08/13/2012 08:15 AM |
Updated 12/19/2012 03:14 PM
What Happens If You Don't Name A Beneficiary?
To avoid confusion, we encourage you to designate a beneficiary and file it with your uniformed service. However, if you do not name a beneficiary, the insurance proceeds will be paid "By Law." The order of precedence is first to the surviving spouse, then to any children, then to the parents and finally to a duly appointed executor or administrator of the estate.