Things can become hectic for your loved ones after you die. Between grieving and making sure the terms of your will are followed, it’s a lot for anyone to take on, including the beneficiaries of your life insurance policy. One of the ways you can provide a loving gift is to leave instructions for your life insurance beneficiary. Hedgepeth-Hutson Insurance Services, serving Nashville, NC, explains.
Detailed Instructions
You could choose to write down detailed instructions about your life insurance policy. This letter could be left with your attorney if you have one, or in a folder with other important documents to be accessed after your death. Tell your beneficiary where the letter is, and maintain more than one: a digital and a hard paper copy in case your computer can’t be accessed for some reason.
What To Disclose
In the letter, you’ll want to provide all the pertinent information so your beneficiary knows how to get the money you’ve provided for them in your life insurance policy. It should include:
- Insurance agency name and contact information
- Copy of the life insurance policy (if possible)
- Policy number (if policy is not included)
- Benefit amount
- Information on how to claim the benefit
Extra Information
It may also be helpful to include information about what you hoped that your beneficiary might use the benefit money for, although you cannot legally dictate how they spend it. You can still offer suggestions, such as using the money as a down payment on a house, paying off a mortgage, or paying for college tuition.
Leaving instructions for your life insurance beneficiary may seem odd now, but it will be helpful as your loved one tries to navigate life without you. Contact Hedgepeth-Hutson Insurance Services for more tips or to learn more about setting up your life insurance policy. We’re currently serving Nashville, NC.
