Life Insurance Exam [National] 46 – Beneficiary Types and Designations Explained

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam real estate exam. In this episode you will learn: • The hierarchy of primary versus contingent beneficiaries and how death benefit triggers work. • How the Common Disaster Clause and Uniform Simultaneous Death Act protect beneficiary proceeds. • The legal implications of a vested interest when using irrevocable beneficiary designations. • Why the written consent of an irrevocable beneficiary is required for policy loans and owner changes. • The functional differences between per stirpes and per capita distribution methods in death benefit payouts. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep