The term beneficiary crops up every now and again. Usually you’ll see it on an insurance form or hear about it in relation to a will, but despite the nonchalance we toss the term around with, beneficiaries are incredibly important. Let’s break down the details on how and why beneficiaries matter.
1. Underestimating the Odds of Becoming Disabled
The risk of a disabling illness or injury that prevents a worker from doing his or her job is more significant than most people realize. According to information compiled by the National Association of Insurance Commissioners (NAIC), a male U.S.