We don't like to nag but...make sure your Life Insurance policy is where your beneficiaries can find it.                                                 What, you say?? You do not have life insurance? Call us today!
It can be hard to decide who will be your beneficiary.                                                                                                   From www.trustedchoice.com: Naming a life insurance beneficiary should be an easy and uncomplicated process. While it can be straightforward in many cases, there are a number of potential legal, financial, and tax-related problems that can occur if you don’t name your beneficiaries properly. Therefore, it’s important to find out how you can avoid making simple but potentially costly mistakes.      


                        How do you designate a life insurance beneficiary legally? There are two basic types of life insurance beneficiaries:

1. Primary beneficiary: The primary beneficiary is the person (or persons) who will receive the proceeds of the life insurance policy when the insured person dies. However, the primary beneficiary will not receive any proceeds if he or she dies before the death of the named insured.
2. Contingent beneficiary: This is also known as the secondary beneficiary. The contingent beneficiary will not receive any of the life insurance proceeds if the primary beneficiary is still alive when the insured person dies. The contingent beneficiary is only entitled to receive proceeds if the primary beneficiary dies before the named insured.
Many professionals in the industry feel that the best or safest approach is to name a primary beneficiary and a contingent beneficiary on a life insurance policy.
                                                                                                      
Once you decide on who will be your beneficiary; the biggest give you can give them is the copies of your Life Insurance, Will, etc.  Please make sure they are aware of how to access those documents and who to contact in the event of a loss.                                                                                                                                                                                                                                              If you do not have any Life insurance in place, make sure to call us at April Schaffroth Farmers Insurance Agency: 602-297-5155.
www.insuranceinaz.com