Let’s do a little FACT vs MYTH about life insurance and beneficiaries #AD Myth 1: Your will overrides your insurance primary beneficiary. Fact: Your life insurance company will send the benefit payment to the person listed as your primary beneficiary on your policy … not on your will. Tip: Keep a copy of your life insurance certificate for your records and review your beneficiaries regularly. Myth 2: Your life insurance beneficiary receives the money right away without having to do anything else. Fact: Well … not exactly. ModernWoodmen1883, they like to keep the process as simple as possible. You need to: File a claim. Provide a death certificate. If your beneficiary does not file a claim, the money may remain unclaimed. Tip: Make sure your beneficiary knows they are listed on your life insurance policy. Myth 3: If a minor is a primary beneficiary, they can receive insurance payments directly. Fact: Not exactly. If you list your minor children, they cannot receiv...