Don't Let Life Insurance Become the War of the Roses
Are you recently remarried and want to add your new spouse as a beneficiary to your existing life insurance policy? You may want to do a little research before making any changes to your current policy.
If your existing life insurance policy has your ex-spouse as beneficiary, and you want to split the proceeds with your current spouse it could have potential problems. You may have been court ordered to have a policy in place with your ex-spouse as beneficiary as part of a divorce agreement. There also may be a stipulation that your ex-spouse needed a set amount of money in order to raise the children.
The last thing you would want is to have your estate tied up in probate because of changes you made to your life insurance policy. If this happens, your beneficiaries and final expenses would not be paid and it could take a long time to get it sorted out. To avoid this problem, you could purchase an additional policy naming your current spouse as beneficiary.
Term life insurance rates are at an all-time low. Obtaining a new term life insurance policy to cover your burial expenses and providing your current spouse financial protection is quite affordable. Our free assess your needs tools can help you calculate how much insurance you need. From there you can obtain a free term life insurance quote. It really is that easy.
Do not let your estate end up in a War of the Roses situation. Protecting your family is the most important thing you can leave behind for them. If you need some information regarding your specific situation, please contact us at 800-651-1953 so we can help you get the life insurance coverage you need.
About the author: Teri Costen has been in the life insurance business for over 20 years. She is a mother of three who enjoys working out, taking aerobic kickboxing classes, and making stained glass. Teri believes that finding the right life insurance policy helps protect your family and loved ones. You can contact Teri at 1-800-651-1953 or TCosten@Pivot.com.