While no one wants to think about the death of themselves or a loved one, it is something that will happen to everyone on the planet.  It is the only guarantee.  So how do you go about making it just a little bit easier for your loved ones?  Make sure that your life insurance is on par with what it needs to be.  It’s too late to go back and change it after you are gone, so do it now while it will still make a positive difference.

The following six tips are given from Scott L. Webb, owner of Webb Financial Group LLC.


  1. The insured’s estate is named as the beneficiary: There might be state inheritance tax you have to pay, creditors can get at the money and the money may go through probate. Make sure primary and contingent beneficiaries are listed on personal and group policies.
  2. Not listing at least two contingent beneficiaries: If the primary dies before you get it changed you could have the same problems as above.
  3. Failing to do beneficiary audits: More than 50 percent of us get divorced and some of us get remarried. It’s often possible that your sister, brother, or ex is still the beneficiary on policies.
  4. Underinsured.  Consumers often fail to get enough life insurance to even pay off the home mortgage. They are often buying the wrong type of life insurance for their personal situation.
  5. Leaving minor children and emotionally immature young adults as beneficiaries: The guardian of the children has control of the money when you are gone — maybe your ex — and a lot of 20-year-olds know how to spend money like crazy. Consider trusts or settlement options on the policy you own.
  6. Not shopping around: You might spend $50,000 in life insurance premiums over your lifetime. It’s amazing how many people will shop around for cars but not life insurance. If somebody is trying to sell you a policy, get a second opinion.


Regardless of your situation, sit down with your insurance agent and go over your policy.  Make sure that you understand what your policy covers.  It’s better to be safe than sorry.

Call Waggoner Insurance today at (770)-434-4000

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