--- title: What Are Beneficiaries and Why Do You Need Them? description: This blog is the second in a series on estate planning. Today's blog looks at beneficiaries, what they are, and why you need to add them to your accounts. image: https://blog.avadiancu.com/hubfs/NEPW%20Beneficiaries_Blog.png --- [Skip to main content](https://blog.avadiancu.com/what-are-beneficiaries-and-why-do-you-need-them#maincontent) # What Are Beneficiaries and Why Do You Need Them? ![NEPW Beneficiaries_Blog](https://blog.avadiancu.com/hs-fs/hubfs/NEPW%20Beneficiaries_Blog.png?width=509&height=339&name=NEPW%20Beneficiaries_Blog.png) A beneficiary is the person or person(s) you designate to inherit your account. The account beneficiary can claim ownership immediately upon your death.  You may add more than one beneficiary on each account.  Not only does adding a beneficiary or beneficiaries to your account(s) make it easy for the funds in your account(s) to be transferred upon your death, but it also has the added benefit of increasing your deposit insurance coverage by the NCUA since each beneficiary is covered up to $250,000. The additional ESI insurance that Avadian provides doubles the amount for each named beneficiary.  To learn even more benefits about adding beneficiaries to your account(s), check out this [blog](https://blog.avadiancu.com/adding-beneficiaries-has-benefits). ### Topics - [Fraud Prevention (27)](https://blog.avadiancu.com/topic/fraud-prevention) - [Business Services (12)](https://blog.avadiancu.com/topic/business-services) - [Mortgages (9)](https://blog.avadiancu.com/topic/mortgages) - [Credit Unions (8)](https://blog.avadiancu.com/topic/credit-unions) - [Savings (8)](https://blog.avadiancu.com/topic/savings) - [Home Equity Line of Credit (7)](https://blog.avadiancu.com/topic/home-equity-line-of-credit) - [Online Banking (7)](https://blog.avadiancu.com/topic/online-banking) - [Black History Month (6)](https://blog.avadiancu.com/topic/black-history-month) - [Credit Cards (6)](https://blog.avadiancu.com/topic/credit-cards) - [Financial Literacy (5)](https://blog.avadiancu.com/topic/financial-literacy) - [Financial Management (5)](https://blog.avadiancu.com/topic/financial-management) - [Mobile Banking (5)](https://blog.avadiancu.com/topic/mobile-banking) - [Identity Theft (4)](https://blog.avadiancu.com/topic/identity-theft) - [Auto Loans (3)](https://blog.avadiancu.com/topic/auto-loans) - [Business Loan (3)](https://blog.avadiancu.com/topic/business-loan) - [Checking (3)](https://blog.avadiancu.com/topic/checking) - [Women's History Month 2023 (3)](https://blog.avadiancu.com/topic/womens-history-month-2023) - [CDs (2)](https://blog.avadiancu.com/topic/cds) - [Boat Loan (1)](https://blog.avadiancu.com/topic/boat-loan) - [Breast Cancer Awareness Month (1)](https://blog.avadiancu.com/topic/breast-cancer-awareness-month) - [Community (1)](https://blog.avadiancu.com/topic/community) - [Covid-19 (1)](https://blog.avadiancu.com/topic/covid-19) - [Deposit Insurance (1)](https://blog.avadiancu.com/topic/deposit-insurance) - [First Time Home Buyers (1)](https://blog.avadiancu.com/topic/first-time-home-buyers) - [Home-buying (1)](https://blog.avadiancu.com/topic/home-buying) - [Loans (1)](https://blog.avadiancu.com/topic/loans) - [Money Tips (1)](https://blog.avadiancu.com/topic/money-tips) - [Retirement (1)](https://blog.avadiancu.com/topic/retirement) - [Safe Deposit Box (1)](https://blog.avadiancu.com/topic/safe-deposit-box) - [Small business (1)](https://blog.avadiancu.com/topic/small-business) - [Taxes (1)](https://blog.avadiancu.com/topic/taxes) - [Tips (1)](https://blog.avadiancu.com/topic/tips) [see all](https://blog.avadiancu.com/what-are-beneficiaries-and-why-do-you-need-them#) - [Important Phone Numbers](https://avadiancu.com/Important-Phone-Numbers) - [Careers at Avadian](https://avadiancu.com/Employment-Opportunities) - [Volunteer for the Board](https://avadiancu.com/Membership/About-Avadian/Volunteer-Board) - [Privacy Policy](https://avadiancu.com/Privacy-Statement) - [Credit Card Agreement](https://avadiancu.com/Portals/0/VisaFolderApp%20-%20credit%20card%20agreement.pdf?ver=2018-04-15-133942-400×tamp=1523817605434) - High Contrast Mode OnOff - [Online Services Terms and Conditions](https://avadiancu.com/Portals/0/Avadian%20Credit%20Union%20-%20Online_Services_Agreement%2006-13-2018%20FINAL.pdf?ver=2019-02-19-170359-640) - [Accessibility Statement](https://avadiancu.com/Accessibility) - [Deposit Insurance ](https://avadiancu.com/Personal/Build/Safety-and-Soundness/Deposit-Insurance) - [Fee Schedule](https://avadiancu.com/Fee-Schedule) - [Member Discounts](https://avadiancu.com/Membership/Member-Services/I-Love-My-Credit-Union-Rewards) - [Site Index](https://avadiancu.com/SiteMapAVA) **Phone:** 888.282.3426 **Corporate Headquarters Mailing:** P.O. 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