Author's Insights

Insurance

Generally, when we think about insurance the first thing that comes to mind is health, home and auto. In today's world, there are so many types of insurance sold and so many different company's selling insurance. Many people shop insurance for the best price so you may have your auto with a company you found online, your home with a local company, and your health through your employer.

Quite often, it is one family member who handles the insurance for the entire family and other members of the family have no clue what types of insurance they have, who the agents are, or who the carriers are.

Think about your elderly parents for a moment. Do they have long term care insurance, life insurance, dental, vision, health, veteran's, renter's, disability, prescription drug plans, homeowner's, or auto insurance? Do you know where the policies are located? Agents? Policy numbers? What the plans cover?

Recording the carrier, type of insurance, policy numbers, and agents in the organizer will greatly reduce the time your loved ones or representative will have to spend searching for these documents. Having this information readily available will also make receiving benefits from these policies happen much quicker.

Each year, I still open our state's Unclaimed Funds website to search the names of my deceased family members that I have been Executor for. There, you will find that a large portion of the unclaimed funds listed are those from insurance companies. Often, these are forgotten policies with cash pay-outs still pending and that are being held by the State.

Take the time today to write down all the different insurance policies you have and remember to include policies through your employer. Think about policies, usually life insurance, that you may have had since childhood.

Having this information recorded will save countless hours of searching for your loved ones or estate representative.

DISCLAIMER:  The author of When The Time Comes does not claim to be an expert in the fields of banking, investments, accounting, insurance, real estate or law. The author does not provide legal advice. The information contained in this binder comes from the personal experience of the author working with families and individuals over the past 40 years as a registered nurse, health advocate, POA, Guardian and through pastoral care. Readers are advised to contact experts in the respective fields listed in the binder for additional information.

© 2022 Carol Havens | All rights reserved
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