Protect Your Family with Life Insurance

7 THINGS TO DISCUSS WHEN PLANNING YOUR FINAL EXPENSES

You work hard to take care of your family – to provide them with a home, a comfortable lifestyle and the means to achieve their hopes and dreams. Meeting this responsibility means careful planning. We have compiled 7 things to discuss when planning final expenses. It’s very likely that you’re already doing many of the right things – contributing to retirement plans , putting aside extra savings for your children’s education, building a nest-egg to live out your retirement dreams. But, if something should happen to you, how would your family manage without your financial contribution? Could they maintain their lifestyle – and their home?
Will your children’s education needs be taken care of? How will your final expenses be covered? Withdrawing from your savings or your investment portfolio to finance
these costs could seriously jeopardize your family’s long-term financial well being.

1. YOUR WILL
  • Do you have a current Will in place?
  • Have you named a guardian for any minor children ?
  • Is the Will in a safe place ?
  • Who is the executor of the estate and do they know where the Will is ?

2. YOUR FUNERAL

  • Have you told your family of your plans ?
  • Have you discovered the costs ?
  • Have you put aside money that is dedicated to the funeral?

3. YOUR ESTATE

  • Who has the power of attorney?
  • Do you have a living will ?
  • Do you have these documents in place?

4. YOUR ASSETS

  • Where is the list of bank accounts, investments and passwords?
  • Do you have a contact list of any bankers,lawyers and accountants?
  • Do you have records of any properties or other assets?

5. YOUR  DEBTS

  • Do you have a list of all debts, due
    dates, and contact information?
  • Do you have life insurance to pay off
    your debts in the event of your death?

6. YOUR INSURANCE POLICIES

  • Do you have a record of all the
    insurance you own?
  • Do you have a contact list of your
    insurance advisors?
  • Have you talked to your life insurance
    advisor about the different types of
    certificates and policies available to help
    your loved ones when you pass away?
  • Are there any company death benefits your family should be aware of?

7. YOUR INFORMATION

  • Do you have all the important information
    for your loved ones, financial documents
    and your final requests in one place?