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Know your insurance terms

July 16th, 2011 Posted in Family, Health, Investment

Insurance terms such as per stirpes might not be familiar to most of us but it is an important clause to make sure that it is included into your insurance policy. When we sign up for an insurance especially life, we need to name our beneficiaries.  However should the death of the beneficiary precedes the insured, who will then be named as beneficiary?  Of course one can always amend the beneficiary but just in case that is not done in time, then it should automatically go the the heirs of the beneficiary.  That is per stirpes.  It’s a convenient and important clause.  So be sure you have it in your insurance policy.

  1. One Response to “Know your insurance terms”

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