The 12 things to check on your beneficiaries.

The baseline setup.

Every life insurance policy has two beneficiary layers. Primary beneficiaries receive the death benefit first. Contingent beneficiaries receive it only if all primaries predecease the insured. Naming both is standard. Naming only one is how benefits end up in probate.

12 points to check today

• Is there a primary beneficiary? An unnamed primary defaults to the insured's estate — and into probate.
• Is there a contingent beneficiary? If your spouse is the only named beneficiary and dies first, the claim goes to probate.
• Are percentages specified? If naming multiple primaries, split percentages explicitly (50/50, 60/20/20).
• Are minor children named directly? If yes — fix this. Insurers can't pay minors. Use a trust or an adult custodian under UTMA.
• Is your ex-spouse still listed? Most common single mistake. Divorces rarely auto-revoke beneficiary designations; you have to update manually.
• Are new children included? Adding a child after the policy was issued doesn't automatically update the designation.
• Is a trust named correctly? If naming a trust, use the exact legal name — not "my family trust" or "the Smith trust."
• Is the insured's full legal name correct? Maiden names, hyphenation changes, and shortened versions all cause claim delays.
• Are SSNs or DOBs on file? Most insurers require these for contingent beneficiaries. Missing data means delays at claim time.
• Is there a secondary contingent layer? Advanced: if all primaries and contingents predecease, where does the benefit go?
• Is there a revocable vs. irrevocable designation? Revocable is the default and almost always what you want. Irrevocable requires beneficiary consent to change.
• Are beneficiaries aware they're named? Not required, but strongly recommended. Families have lost claims because no one knew a policy existed.

When to review

Treat beneficiary designations like smoke detector batteries. Review:

• Every 2 years, regardless of life events.
• After marriage or divorce.
• After the birth or adoption of a child.
• After the death of a named beneficiary.
• After major financial changes — home purchase, business formation, large inheritance.