Here's the second installment of my Hey! Did You Know? series. Much like the first installment, the topic revolves around beneficiary designations.
Some people are driven to ask hard questions like "What if my spouse and I separate, and our relationship became strained. Can I remove him/her as my beneficiary?"
Hence, I've made a summary of the differences between revocable and irrevocable beneficiary, so here goes:
To avoid any problem/s in the future, one should be very careful in designating a beneficiary, although I understand we have no control over many things that happen in life.
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I'd love to hear from my readers - and I respond, always. By the way, some examples might resonate with you or someone you know, please know that this is just circumstantial, and not malicious or intentional. Lastly, the views expressed here are purely mine and do not necessarily represent the views of Sun Life Philippines.