When it comes to researching your life insurance options, there are some things you may not think to ask about or look into, which could play an important role in making the right decision or understanding your policy.

In order to help you better understand your life insurance policy and how it works, here are some helpful suggestions:

Be sure to include a payment with your application. While this does not happen often, in the case that you were to die after applying for a life-insurance policy, but before the application has been processed, you wouldn’t have an effective policy, unless you include a your first payment when you submitted your application. In that case, your coverage will be retroactively binding to that day, ensuring your life insurance policy is effective.

Avoid using a minor as your beneficiary. While one of the most popular reasons for purchasing a life insurance policy is to provide for your child or children, minors cannot receive life insurance proceeds directly. If you name your child as a beneficiary, he or she may have a hard time getting the money before their are a legal adult, and in that case, their is no control over how that child can use the money. The best option may be to create a life insurance trust, which can disburse the funds over time on the terms and milestones you define.

Avoid using group life insurance to satisfy a divorce agreement. If your divorce agreement provides you with alimony or child support, it is likely that your ex-spouse has a life insurance policy naming you as a beneficiary. However, if he or she is using a work policy to satisfy this requirement, it may be in your best interest to ask him or her to reconsider, especially in the event that your ex-spouse changes jobs, then the agreed-upon life insurance coverage may be lost.

Speak with your insurance agent. Purchasing insurance online is not always the best way, especially when it comes to something as important as your life insurance policy. In order to have a life insurance policy that fits your specific needs, be sure to work with your agent, who can best help you decide what you need or don’t need.

Brazelton Insurance Group specializes in a variety of insurance needs. From life insurance, to health insurance, to transportation insurance, contact for more information or help today!