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Deciding how to secure your loved ones’ future after your demise is a crucial life decision. Acquiring life insurance is a straightforward method to ensure your family has the necessary funds for your funeral or other expenses. If you reside in Sandy, UT, our dedicated team at Smith Insurance Group Inc. can assist you in finding the life insurance information you require. Our team has been serving clients in your area for over two decades.
Understanding Beneficiaries
Upon purchasing life insurance, you’ll need to designate one or more beneficiaries. These individuals will receive the payout from your life insurance after your demise. It’s crucial to inform your beneficiaries about your policy, including its location and the name of your insurance company.
If you experience a significant life event, such as marriage or divorce, you might consider changing your beneficiary. Ensure that each beneficiary’s most recent contact information is listed in the policy. Upon your death, your beneficiary can choose between receiving a lump sum payment or setting up a Retained Asset Account, which functions similarly to a checking account.
If you’re collaborating with an estate attorney, ensure they have a copy of your life insurance policy.
Schedule Your Appointment Today
We recognize the importance of making the right decisions for your family. Each member of our Smith Insurance Group Inc. insurance team is equipped to provide you with insurance education and client support. Clients in Sandy, UT have come to trust us for their insurance solutions. Contact us today, and let’s collaborate to find your insurance solutions.
