What’s Your Plan?

life insuranceIt is a moment that no one looks forward to.  It is a moment which we know is coming “someday” but that we hope doesn’t arrive for a very long time.  Let’s face it, there is never a good time to experience the loss of a loved one.  When that time arrives however, it can be confusing, stressful and full of decisions.  The last thing you need during this process are unexpected surprises. During the time following the death of a loved you are trying to pick up the pieces of what used to be your life while trying to figure out how to tap into your loved one’s life insurance policy in order to fund costly funeral expenses.  These can be tough moments filled with sorrow and a feeling of helplessness.  Moments where you may barely be able to put your shoes, on never mind having the wherewithal to make those tough calls and pay for final expenses.

We have written about many processes in past blogs in order to help you make some important decisions.  What to do in the event of an accident, how to buy insurance, what kind of insurance to buy and this topic is no different.  When a loved one passes away it is a time that can impair judgment and somehow cloud thinking, erase your knowledge of what to do which you somehow could recall just yesterday.

Here are a few things that you should know about which may just make this process a little easier and go as smoothly as it possibly can when the time comes.

  1. Make sure that the Beneficiary listed on your life insurance policy is current and up to date.
  2. Know where your policy is and keep it with all other important documents that you may need to access quickly in times of emergency.
  3. Understand your policy. If you are unsure of the coverage that is provided by your life insurance policy, call your insurance agent to get a thorough explaination.  The time to find out that you do not have enough coverage is not when you are now depending on it.
  4. The most difficult but important step that cannot be over looked is to make sure your loved ones know what polices you have ,where they are, and what to do.   Many times loves ones are left scrambling to find out if there was any life insurance and who the beneficiary is.  Believe it or not there are many policies that are never paid out because the claim was never made.

Final expenses can be overwhelming, but the process to pay for them should not be.  Take some time today to make sure you have life insurance that will cover your final expenses and help your loved ones as they begin the healing process.  If you have questions about life insurance you can contact Rich Volkmann at FBinsure for more information.