For many people, life insurance is a mystery — something that most people know they should have, but something that few actually understand its benefits. Some people invest in life insurance when they’re younger, but they may never review their policies. This lack of review can be a critical mistake. As you age, your life insurance coverage needs to adjust accordingly. You will never know whether you have the right coverage unless you regularly evaluate your choices.
For example, your life insurance may be more flexible than you think. Even if you believe that you’re an insurance expert, you could face opportunities that you’re overlooking. Do you know about all of your options for using your life insurance before you die? Do you know if you can use your life insurance coverage before you die? Understanding how life insurance works can help you make smart decisions when you’re alive to allow your family members to easily use funds and maintain financial stability after your death.
Take the Health IQ’s quiz Life Insurance Quirks You Should Know About by Health IQ to learn about different life insurance options and discover gaps in your knowledge. In only a few minutes, you could discover life insurance options that you never thought of to ease the pain for your family members following your death. People don’t want to think about what’s going to happen when they die, but the preparations that you decide to make today can help relieve your loved ones of unnecessary financial burdens.