032123 Tips to Avoid Delays in Your Life Insurance Claim...

1. Make Sure Your Beneficiaries are Current.

I received a call from a client recently concerning her mother-in-law

Who had passed. The primary beneficiary pre deceased the insured.

No contingent beneficiary was named therefore this held up claim

Payment.

Policy-owners can name anyone as a beneficiary, from their spouse,

Or ex-spouse, to children, siblings, parents, business partners,

A charitable organization or a trust.

Policy-owners may also designate a contingent beneficiary.

This person or entity is a secondary recipient of the life insurance

Policy payout.

The contingent beneficiary will receive the death benefit if the primary

Beneficiary dies or cannot be found before the policy pays out.

Beneficiary designations need to be very clear and follow the

Requirements of the life insurance policy.

2. Do Not Name a Minor.

When an insured lists a minor as a beneficiary, a life insurance claim

May be delayed, because a child who hasn’t reached the age of majority

Cannot receive the proceeds without a guardian.

3. Always Name a Beneficiary.

When no beneficiary is named on the policy, the life insurance proceeds

Will go to the estate or be distributed to the next of kin.

You will receive the full death benefit if you are the sole beneficiary.

If there are multiple beneficiaries, each will get their allocated share.

An improper beneficiary designation or change can lead to beneficiary

Disputes which will cause payout delays.

* Some insurance companies allow you to name the funeral

Home as beneficiary for your convenience. A second beneficiary

Named would receive any remaining proceeds after payment has been

Made to the funeral home.

Contact Me Today!

Hayden Childs

Independent Insurance Agent

(205) 269-1382

shcmail34@yahoo.com

www.haydenchilds.net

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Due to health or other concerns…

* Guaranteed Issue Term Life Insurance

Ages 18-75 up to 50 K of coverage.

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“The Grief is bad enough,

Don’t leave the burden

To YOUR family!”

Comments

022823 The 9 Benefits of Whole Life Insurance...

(1) Provide for Loved Ones… It’s the basic need everyone thinks about. You have a young family. You are the major breadwinner. Something happens to you. How is Your family supposed to make ends meet? It’s a form of protection. Peace of mind. (2) Key Man Insurance… You and your partner own a business. It’s grown. Many employees Depend on you. If something happens to your partner, it’s likely their Spouse or family will inherit their share of the business. Cash would Be a lot more useful to them. Life insurance on both partners can Provide the cash to buy out heirs and keep the business intact. (3) Emergency Loans… Hopefully your client lives a long life. The whole life policy accumulates Cash value, eventually growing to the full face value, or beyond. Many Policies allow you to borrow money against the cash value. You would pay interest. (4) Funding Estate Taxes… Your client owns a farm. It’s your major asset. It’s illiqui

081022 Is Life Insurance Worth It?

The decision to buy life insurance is personal. So many of the insurance calculations depend on your circumstances, Financial situation and future plans. Even individuals who don’t currently have dependents, a business, Or significant debt may want to look into getting life insurance. That’s because the cost will go up as you age, which means that right Now is likely the cheapest time for you to buy a policy. Even the best planners can’t predict the financial fallout of your demise. Carrying some life insurance can provide a layer of financial protection For your beneficiaries. Thinking through the potential financial issues that could arise after your Death can help you answer the big questions: when, and how much Life insurance you should buy, if any. - Emily Guy Birken https://www.thebalance.com/who-needs-life-insurance-2645793#toc-why-buy-life-insurance Hayden Childs Alabama Licensed Agent (205) 269-1382 www.haydench

050922 How Much Does Life Insurance Cost?

The cost of life insurance varies significantly depending on several different factors. One of the biggest cost factors will be the type of life insurance you buy. For example, a term life insurance policy is significantly less expensive than a Whole life insurance policy for the same amount of coverage. Here are some of the most common factors affecting life insurance rates… Age… The younger you are when you buy a policy the less you’ll pay. That’s because your chance of death is smaller. Sex… Females have a life expectancy that is nearly five years longer than males, according to the National Center for Health Statistics. This means that men generally pay more for life insurance than women (except in Montana where insurers must provide gender neutral life insurance rates). Health… Your health has a major impact on your life insurance rates. The insurer will evaluate your past and current medical conditions in order to

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