Facing the loss of a family member is tough, to say the least. But having to deal with their finances and other unresolved issues, on top of continuing to make ends meet, just adds headache in addition to heartache. While no one likes to think of their own death, it’s important to consider the repercussions that your sudden absence can have on your family.
Buying life insurance is a great way to ensure your loved ones’ continued financial support. But your familial responsibility doesn’t end with the purchase of a policy. It’s also recommended that you gather important information into one place so your family and any other beneficiaries can handle what must be done without the hassle of tracking down this information for themselves.
At the very least, your beneficiaries will need the information to communicate with your life insurance provider, including your policy number. In addition, it’s very helpful to gather the following information/documents:
- Personal documentation, such as birth certificates and social security information
- Your attorney’s contact information and a copy of your will
- Contact information for your financial advisor and accountant, if applicable
- Information about your mortgage, income tax and real estate tax
- Copies of home, auto and any other insurance policies, along with contact info for insurance providers
- Information about bank accounts, investment accounts and/or retirement savings accounts
With this information organized in a safe location that your family has access to, you can rest assured knowing that dealing with the aftermath of your death won’t send them on a rat race to retrieve this information. Even in the hardest of times, preparing in advance makes the lives of your family a little bit easier.
Are you covered? Call Sweet & Baker Insurance Brokers at (415) 512-2100 for more information on San Francisco life insurance.