Life insurance can help provide your loved ones with money to carry out your final wishes and money to live on after you pass away. Many people want to have a say in how their life insurance money is spent after they pass, and as such, they wonder if they can dictate how their life insurance proceeds are to be used. Our insurance experts at Heimgartner Insurance Inc, helping those in the greater Sioux City, IA area, provide an answer to this question.
Can You Dictate How Your Life Insurance Proceeds Need to Be Used?
Unfortunately, you cannot put any rules or stipulations on how your life insurance proceeds need to be used. When you purchase a life insurance policy, you have full control over who you name as a beneficiary. Once you pass away, the money will be distributed to the person or persons that you named as beneficiaries. Once the money is distributed, the beneficiaries can spend the money however they wish. There is no way to dictate how the money can be spent or what it can or cannot be spent on.
While you cannot specifically dictate how you want your life insurance money to be used once you pass away, this does not mean that you should not purchase life insurance. Life insurance can still be beneficial to your family, and most people use the money responsibly.
Give Us A Call
If you are looking to provide for your family in case you pass away unexpectedly, Heimgartner Insurance Inc, serving the greater Sioux City, IA area, can help you find the life insurance product that best meets your needs. Call us now to start the process.
