Finlayson Law Firm P.C.
Finlayson Law Firm P.C.
  • Home
  • Attorney Profile
    • David A. Finlayson
  • Areas Of Practice
    • Estate Planning
    • Trust Administration
    • Asset Protection
    • Probate Law
  • Contact Us
  • Blog
  • Home
  • Attorney Profile
    • David A. Finlayson
  • Areas Of Practice
    • Estate Planning
    • Trust Administration
    • Asset Protection
    • Probate Law
  • Contact Us
  • Blog

Learn More About Life Insurance With These Tips

11/19/2020

0 Comments

 
Taking out a life insurance policy is a way of protecting your loved ones should you pass. No one wants to think about their passing, but when it comes to life insurance, waiting is not an option. A family without life insurance could become financially devastated at an already difficult time. Choosing the right policy is important. Here are some tips to help you sort through all of your options.

When creating a divorce settlement that requires one parent to maintain life insurance in order to keep custody of children, create the insurance policy before signing the divorce settlement. This speeds up the settlement process and insures that any kinks in the making of the insurance policy are dealt with before the custody issues.

When choosing a life insurance policy, it is important that you assess your and your family's financial needs. Separate what you think you know from what the insurance salesman is telling you. You understand your situation better than any salesperson, which means you know how much coverage you require.

If you worry a lot about your family, you should get life insurance for your own peace of mind. In the event of your death, your family would get money from your life insurance. If you are not earning enough money to support your family after you are gone, you should look into life insurance as an alternative.

Don't lie or withhold information on your life insurance application. If an insurance provider finds out that you did not disclose a medical condition or a certain type of lifestyle on your application, they can void your policy. If you die, this can then leave family members left behind in a difficult position.

When getting life insurance, make sure to get a policy that offers mortgage protection. What this does is help pay off your mortgage or any other debts when you pass away. This is important because it helps relieve your loved ones of your financial debts when you are no longer alive.

If you have a life insurance policy that is well founded, meaning you have a growing balance, you may be able to borrow against it to get the money that you need for a down payment on a house. If you do not want to borrow against it, you could even cash it out and start over on it again.

0 Comments



Leave a Reply.

    Archives

    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015

    Categories

    All

    RSS Feed

Office Hours

Monday - Thursday 8:30am - 5:00pm
Friday 8:30am - 4:00pm
Closed 12:00pm - 1:00pm

Contact Us

Phone: 505-373-3500
Fax: 505-373-3501

[email protected]

We offer appointments in:

Albuquerque
Farmington
Don't see your city on the list?  
Contact us for an appointment in your area
We are located on Jefferson St just one block North of San Antonio/Ellison at:
7301 Jefferson St NE Suite F
Albuquerque, NM 87109


Website by RATES Ad Agency