It is very important to keep your life insurance policy up to date and that includes updating your life insurance beneficiaries.
I have found an excelent article that I want to share with you all that goes deep into the matter.
When to update your life insurance beneficiaries
Brad Cummins May 12, 2016
Certainly, a big part of putting together any life insurance plan is choosing who the beneficiary will be. Depending on the purpose of the policy, that person or entity could be a spouse, child, business partner or charitable organization, just to name a few.
And when we set up our life insurance plans, just like any other type of financial planning situation, we don’t do it in a vacuum. In other words, it happens during just one point in time — and as we all know well, life continuously goes on.
At a presentation for would-be Uber drivers attended by BuzzFeed News, a company representative advised getting less-expensive “personal” insurance that can leave drivers uncovered and in some cases lead them to incorrectly register their cars in violation of the law.
Uber is steering drivers to purchase auto insurance that leaves them uncovered when they’re trolling for fares and that often forces them to flout the law by lying when they register their automobiles, according to documents, interviews, and an Uber presentation attended by a BuzzFeed News reporter.
It seems like accidents, disasters, and catastrophes only strike when you’re uninsured. Even if your policy only lapses one day, that will be the day that the neighbor’s tree falls into your house.
Not having home insurance these days is a bad idea, for every year on the news we hear about some new tragic event that has occurred because Nature had her way.
Even a simple summer thunderstorm can cause wreckage and property damage. And you know that it’s better to be prepared, even if insurance seems never to pay off.