Getting Married? Time To Change Your Policy
I know this is the last thing on your mind — that is if you haven’t thought of it at all — when contemplating marriage. Thinking how marriage could affect your insurance is definitely not at the to of your list when you are taking your wedding vows. Well, maybe once the dust has settled, you could examine your policy because insurance needs to be a priority. There are the basics like name and address changes that need to be considered. In addition, you also need to take some more steps to ensure that your insurance is marriage-ready.
One of the first things you must do is update all policies to add the new spouse. In case you feel your present policy is not good enough, go ahead and purchase another one. For instance, you may want to broaden your life insurance to include your spouse and to raise the policy value. You may need to change beneficiaries on existing life and annuity policies. While in most states, your spouse is automatically your beneficiary it is still best to change.
If you enjoyed this article, please bookmark it at del.icio.us »