zTermLifeInsurance Blog
Tuesday, September 07, 2010
- 11
May
2010 -
Dude, Where’s Your Term Life Insurance?
Filed Under: Blogging
In a recent study, it was found that millions of dollars are left unclaimed in life insurance policies in the United States. This means that many beneficiaries of term life insurance and whole life insurance policies are simply not reaping the benefits of the policies taken out by their dear departed. Ensure that your dependents do not suffer the same fate by following some simple steps.
Let your family know: Sit down with your family and let them know about the term life plans that you hold. Also let them know what some of the main terms and conditions of the policy are, so they are better prepared to make a claim.
Write down details of all your investments: Whether it is term life insurance, mutual funds, or investments in stocks, write all the information down in one accessible place. This will also help you keep a tab on all your investments. Update this information as and when it changes. Let someone in your family know where this information is.
If you have a lawyer, let the lawyer know: If you have an estate lawyer, let him/her know who gets what money and how. Typically, you’d want to include information about insurance in this, up top. If you don’t have a lawyer, but have a will, let the executor of the will know about the insurance. Ensure that your hard-earned money actually benefits your near and dear ones.
