Can I name multiple beneficiaries on my life insurance policy?

Yes—most life insurance policies allow you to name multiple beneficiaries and specify the percentage of the death benefit each receives. This flexibility lets you divide proceeds among a spouse, children, other family members, or even charitable organizations.

When naming multiple primary beneficiaries, designate a percentage for each (which must total 100%). For example, you might allocate 60% to a spouse and 20% each to two adult children. If one beneficiary predeceases you and there is no contingent beneficiary named for that share, the proceeds typically pass to the surviving primary beneficiaries proportionally—but this varies by policy and carrier.

You can also name multiple contingent beneficiaries, with similar percentage allocations. Contingent beneficiaries only receive proceeds if all primary beneficiaries are unable to receive them.

For complex family situations—blended families, multiple dependents across different relationships, or charitable giving goals—working with both an insurance professional and an estate planning attorney is advisable. A trust named as a single beneficiary can distribute proceeds to multiple parties according to detailed instructions you set, which offers more precision than a split-beneficiary designation.

Always document the full legal name, date of birth, and Social Security number for each named beneficiary to ensure the carrier can locate and verify them at the time of a claim. Agents in our network can assist with structuring beneficiary designations appropriately.