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When you apply for a Mortgage Life Insurance Plan, you'll be asked to name beneficiaries on the policy. There are two types of beneficiaries you can name: Primary beneficiaries and Contingent beneficiaries. Primary beneficiaries are those people whom you really want to receive your death benefit. Contingent beneficiaries are those individuals whom you want to receive the death benefit only if your primary beneficiaries are no longer living.
When naming multiple individuals as primary and contingent beneficiaries, it's important that you specify what percentage of the death benefit each individual is entitled to. If you don't, then the insurance company will assume that you want each to have an equal share.
It's also important that you provide the social security number of each beneficiary. While the Mortgage Life Insurance Plan will not be rejected if it's missing this information, it does make the death benefit payout faster and more efficient.