Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about The Basics of Mortgage Protection and other Mortgage Protection Insurance topics.
It's difficult for some people to decide who should be made the primary and contingent beneficiaries of their Mortgage Protection Plan. While many married couples automatically choose a spouse as the primary beneficiary, many are unsure who should be the contingent beneficiary. Unmarried individuals are often torn between naming a parent or a sibling as primary or contingent beneficiary. In order to help you decide which family member is right for which role, ask yourself some questions: