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Naming who should get the life insurance money after you die sounds simple, but designating beneficiaries can get tricky.Mistakes are common, financial advisers say -- and they can be heartbreaking and expensive.When mistakes are made "you're not creating problems for you," says Keith Friedman, principal of FBO Strategies, an estate planning and insurance firm in Stamford, Conn. "You're creating problems for the people you leave behind."Here are 10 life insurance beneficiary mistakes to avoid.1. Naming a minor childLife insurance companies won't pay the proceeds directly to minors. If you haven't created a trust or made any legal arrangements for someone to manage the money, the court will appoint a guardian, a costly process, to handle the proceeds until the child reaches 18 or 21, depending on the state.Instead, you can leave the money for the child's benefit to a reliable adult; set up a trust to benefit the child and name the trust as the beneficiary of the policy; or name an adult...
Taishin Financial Holding Co. (2887.TW), a mid-sized financial conglomerate, is offering $100 million New Taiwan dollars (US$3.34 million) for the entire Taiwan oper...
If you're putting off buying life insurance because you think it'll cost too much, it's time for a reality check."Most Americans overestimate the cost of life insura...
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Financial planning for any family is complicated, but the challenges rise to a new level when a child has special needs."Parents are not only planning for their fami...
Three years after new regulations governing 403(b) plans went into effect, the plans are still in flux and experiencing some growing pains -- actually, shrinking pai...
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When you send in your next insurance payment, are you going to buy any "satisfaction"Insure.com's new in-depth analysis provides the most complete view available of ...
When buying life insurance, don't choose a policy before you understand the financial needs of your beneficiaries.Damon Bates, a vice president at Massachusetts Mutu...
You've just hit a deer while driving to work. Or, your pipes burst and there's 3 inches of water in your basement. You need to contact your insurance company -- quic...
The outlook for women diagnosed with breast cancer today is brighter than ever before, and life insurers have taken note.Now, it's easier for many women with a histo...
The trustee seeking money for victims of Bernard Madoff's fraud announced on Thursday a more than $1 billion settlement with Tremont Group Holdings Inc, which he had...
CHICAGO (Reuters) - A group of lenders sued OppenheimerFunds Inc, an investment subsidiary and an advisory company, accusing it of wrongfully procuring $1.8 billion ...
It used to be that people with a history of serious health issues -- ranging from cancer to diabetes to heart problems -- could forget about purchasing life insuranc...
Signs Life Insurance Can Be Tapped For CashThere are two basic types of life insurance: term plans, which provide coverage for a set number of years and usually offe...
Residential Capital LLC is aiming to block American International Group Inc. (AIG), Allstate Corp. (ALL) and other mortgage-securities investors who are seeking equa...
Hartford Financial Services Group Inc. (HIG) has become the latest big life insurer to decide to offer owners of variable annuities with lifetime income guarantees a...
As the kids leave the nest and the mortgage gets paid off, the need for life insurance wanes for many people who have reached late middle age.The focus moves from "H...
As the U.S. population ages, the long-term care insurance industry is suffering growing pains.Some insurers have called it quits. Others are suspending sales of the ...
Hartford Financial Services Group said late Tuesday that it will sell its retirement plans unit to Massachusetts Mutual Life Insurance Co. for $400 million. The deal...
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