Your wedding day is one of the most important days of your life. It's also the beginning of your life together as a couple. If you're getting married, taking the time to iron out your insurance coverage may provide you peace of mind long after the rice is thrown.
Follow this quick checklist to help take care of your important documents, including your insurance policies.
- Insurance Policies - If
you have Life insurance*, be sure to update the information under beneficiaries.
Consider consolidating all of your family's insurance policies - Home, Auto and Life* -- with Farmers®. This could help you qualify for discounts,
making your premium payments that much more affordable.1
- IRAs, Annuities*, Pensions
and Other Retirement Accounts - Verify your current beneficiary designation(s) and consult with your attorney,
accountant or tax adviser for legal or tax advice and to understand the
ramifications of a change. Start planning together for the future needs.
- Social Security Benefits and other government entitlements - Visit
or call the local office to update death benefit beneficiaries and next of
kin information. Check out your Social security benefits at http://www.ssa.gov/
- Business Relationships - If you have an interest in a family business or are in a partnership, review the partnership or shareholder's agreement. Find out what provisions have been made if you want to sell, if you cannot work, if you want to share your duties with your partner or if you die.
- Wills, Trusts and Power of Attorney - If this is your first marriage, you may not have a will, trust or power of attorney. If you're getting remarried, these documents may be outdated. If you're the beneficiary of your parent's will, life insurance policy or named on their deed, it's important to review who will inherit "in your place" should the unthinkable happen to you. If you want your new spouse to inherit in your place, let your parents and other benefactors know.
* Life insurance and Annuities issued by Farmers New World Life Insurance
Company, Mercer Island WA 98040.