The #1 Mistake Players Make With Their Benefits

The game may have changed from ground and pound to the spread formation but one thing has remained constant: The #1 mistake that players make with their benefits is not completing the beneficiary forms on their NFLPA benefits. It may sound trivial but this is an oversight that can impact your family for decades.

Any time that you have a life change you need to update your beneficiaries. If you’ve gotten married, divorced or had a child, your family is at risk. Even if your will or trust leaves your assets to other people the beneficiary designation takes priority on those accounts like your pension, annuity plan, 401k and life insurance. Even if you haven’t had a life change it is good policy to review your will, trust and beneficiary choices every 3 – 5 years. There may be changes going on in your tax situation or your loved ones’ lives that might make changes a good idea.

Choose or update your beneficiaries on the NFL Player Benefits site today and connect with your Program Manager to get connected with Financial Finesses so you can get a better idea of how these decisions benefit you and your family.

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