Even if you have life insurance, you’re not done. Make sure you name your beneficiary!
Hoorah! You’ve finally purchased that life insurance you’ve been putting off for “more important” things like a MacBook, or that yummy chicken parm Peyton Manning keeps singing about. Nonetheless, you now have your life insurance policy. Now all you have to do is complete that beneficiary form and you’re all set! But … what if you already have a will?
Why Beneficiaries Matter
Unless you’re like Patrick Swayze and can become a corporeal ghost, you’re not going to have much say about what happens to your things when you pass. It’s important to know what really is going to happen to your possessions and property after you are no longer here.
- If you pass without a will, everything you own becomes part of your estate for the legal system to sort out. This process can be lengthy, expensive, and aggravating for the loved ones you left behind.
- If you have a will, your loved ones are not out of the process tank quite yet. They still have to go through a process if an angry relative becomes annoyed about your assets. (We all have one in our families.)
If you don’t want to leave your loved ones with problems, and don’t want that relative to get anything you once owned, worry not! There is a way to avoid all of this. Name designated beneficiaries. The concept is simple: make a list of who gets what, including your life insurance policy payout, and when you die everyone gets what you wanted them to get. There’s no probate, no court, no expense, no annoying relative. It’s really that simple!
Contact VGW Walker Insurance in Austin for all of your Texas life insurance needs. We will help you choose the right beneficiary for your life insurance policy while ensuring you have chosen the right type of life insurance policy. Whether you are in need of a term or whole life insurance policy, we will provide you and your family with the future protection you deserve!
