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Five Biggest Mistakes Families Make with Life Insurance

sponsored by Midland National The month of September is Life Insurance Awareness Month.  While it’s still a few months away, it’s not too early to start protecting yourself today. Most families are getting tons of information thrown at them around the topic of investing, far too often I see families make major mistakes when it comes to life insurance.   I had a widow come to see me just a few months ago when her husband had a tragic accident.   He left her with three young children and a $500,000 insurance policy.   With hardly any other saved money, she was left bewildered on how she would be able to make her bills, pay for her kids’ college education, and then also take care of her retirement.   While $500,000 seemed like a lot money at the time they applied for the insurance, in reality it was barely enough to get by given all of the family goals.  Here are the five biggest ...

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Update Your Beneficiary Designations

Many people today are experiencing significant and sometimes sweeping changes in their family situations. Perhaps a recent divorce, separation, or marriage. Or, your children have moved out on their own and perhaps have a new relationship of their own. Maybe someone in your family recently passed away. Changes in any type of family situation could be a very important trigger to review your beneficiary designations. ...

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