Optimize Your Life Insurance Policy

Planning & Life Insurance Westminster CAYou can ensure that the money that you leave behind lasts.

The first step to ensure that you leave a sufficient amount of money for your loved ones is to review your life insurance policy. You should review it annually or after a major life event such as a birth, death, marriage, divorce, or job loss to make sure that you have enough coverage for your circumstance. If you are unsure about the amount of coverage that you should have, you can talk to your insurance professional who can supply advice.

If you have chosen a cash value life insurance policy that allows you to make investment decisions, you may want some advice from an accountant, an investment advisor, or a financial professional.

It is always a good idea to talk to your children and named beneficiary to discuss how the insurance proceeds might be invested and what they should be used for. If you have a specific desire in mind, be sure to voice that to your family and loved ones, for example, a college education for your children, a home mortgage, and your final expenses. Talking about the future plans now is the best way to be prepared when the time comes, so don’t wait for a crisis to arise before having this discussion.

Whether you have term life insurance which provides coverage for a set amount of time, or whole life insurance that delivers permanent coverage, you can create a trust to safeguard the money once you are gone. This legal agreement in which you appoint a person, the trustee, to manage certain property for the benefit of one or more beneficiaries. This trust tool may be appropriate if you are concerned about your beneficiaries’ spending habits or if they may need help managing their inheritance.

Visit the Westminster and San Gabriel local experts at Pulp Street Insurance Agency, for the quality life insurance that you and your family deserve. We understand that different families have different needs and circumstances, so we provide coverage to protect your family when you are no longer able to. Contact us today for all of your personal, life, and auto insurance needs in California!

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