A beneficiary is a person who receives proceeds from the payout of an insurance policy in a qualifying event such as the death of the insured. The travel insurance provider cannot guess where you would like the money to go in-case of an emergency, you must name a beneficiary. So, before you designate beneficiary, please think:
1. How do I choose? Who will need extra money when you pass away?
- The beneficiary can be any family member, children, relatives or friends.
2. Primary, secondary or more?
It is a good idea to additionally name a secondary beneficiary in case there is an accident in which both of you are involved.
3. Can I change my beneficiaries?
- You can change your beneficiary at any time, as long as before your trip depart.
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