Have you made a will, and do you have life insurance?

Have you set up your
finances so that if something happens to you, your family can be adequately
taken care of? There are a couple of basic things you may need to have in place
if what you want for them is to happen in the event of your death. One is to
make a will, and the other is to call your insurance agent and purchase life
insurance.

 

Your will is a
document that sets out how you want your estate – all your assets – disbursed
after you die. In many instances, your spouse and children would usually be
your major heirs. However, you can make bequests to other people. You can also
outline other personal wishes that you might have for how things are to be
arranged.

 

With life insurance,
you pay premiums for a policy that offers a certain payout upon your death.
Often the beneficiary is a spouse, but it doesn’t have to be. If you’re a
single parent there are appropriate options available.

 

The amount of coverage
you have will depend on your circumstances and how much you can afford to pay.
How it is distributed can also be stipulated when you set up the policy.

 

It’s not always easy
to discuss these things with loved ones, but it is a necessary part of
long-term financial planning. Don’t keep putting it off just because it’s
difficult. Make that call to our Manhattan office and get your life insurance
in progress, then make another call to arrange your will if you haven’t done so
already.

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