I need to designate beneficiaries for a life insurance plan. I've designated my wife as the primary beneficiary and my children as contingent beneficiaries. My son is a firstborn and he has two sisters. Currently I have the distribution as a) son 50%; b) daughter 1 25%; c) daughter 2 50%.
I made the distributions this way based on my knowledge of Jewish law?
Then I found the following at http://www.jewishvirtuallibrary.org/jsource/judaica/ejud_0002_0007_0_06494.html:
The firstborn takes a double portion only of the present and not of the contingent assets, i.e., only of the assets in the father's possession at the time of his death and not such as were due to come into his possession thereafter.
It would appear from this that Jewish law does not dictate how to handle a life insurance distribution, since it would be a considered a contingent asset.
Have I analyzed this situation correctly? I'm curious what others would do...