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Dear Penny: Can My Daughter Inherit Life Insurance if She’s Still a Minor?

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2 years ago

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Dear Penny,

I’m a single mother, and I’m trying to best plan how to protect my daughter if I were to pass. I have a life insurance policy, but it’s only $10,000. Her 529 plan is only 2 years old, and I have my own small savings as I’m starting my career.

If anything were to happen, I want to make sure that only she has access to any money. I have to make sure that she’s safe. How can I ensure she will receive it all, and with no “oversight” or guardian in charge of it?

-Single Mother

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