Life Insurance Mistakes You Must Avoid

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Life insurance in Sacramento is one of the most important investments you can make for your loved ones, so it is imperative you avoid any mistakes.

To err is human, to avoid any mistakes while purchasing life insurance is nothing short of divine–that is unless you know what mistakes to avoid. People have all sorts of circumstances to which they buy life insurance: buying a home, getting married, having kids, and even starting a business. A life insurance policy gives your loved ones (or beneficiaries) financial security should you pass before your time, but in order to give them the best financial security, you must purchase life insurance without committing these common errors. Here are mistakes you must avoid to properly secure your loved ones if you are going to purchase life insurance in Sacramento.
You must avoid. . .

  1. Not being specific with your beneficiaries

In order to avoid any long (and annoying) legal battles about identity, make sure that you be as specific as possible. Include things like address, social security number, and any other information you believe will individualize them as best as possible.

  1. Only naming one beneficiary

You may think that naming one beneficiary is enough, but you never know if they will pass away before you or their intentions change after you die. You should always include one or two backups to your beneficiary plan, just make sure your death benefit goes to the intended party.

  1. Waiting too long to purchase life insurance

Many of us do not consider buying life insurance until something happens in their lives that reminds us that life is fragile and without guarantee. Instead of waiting for this devastating event (through which you may or may not live), contact your insurance provider and ask about what life insurance policy best meets your needs while you are young and healthy.
Your family depends on you for love and financial reasons. A proper life insurance policy would ensure their future if your passing were to come before your time. Contact Purves & Associates Insurance Services in Davis, Sacramento, and the surrounding California areas for all your insurance needs.