Don’t put it off: Assess your life insurance

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Would you believe that 1 in 5 families with children under age 18 does not have life insurance? As shocking as that may be to many of us, a 2018 study by LIMRA, a leading insurance and financial services trade organization, also found that 3 in 10 families would be in immediate financial trouble if a primary wage earner died. And, nearly half of respondents would experience financial adversity in just six months.


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When things change, review your life insurance beneficiary

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You name a beneficiary when you purchase a life insurance policy. This designation lets the insurance company know who should receive the proceeds of the policy. Keeping your beneficiary designation current is key to ensuring your life insurance benefits are paid as you desire. By not updating your beneficiary designation, your benefits may go to your estate instead of to those who need it the most.


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