While the idea of
a life-ending accident, injury or illness isn’t something most want to think
about, but consider these facts: 25 percent of American seniors carry a debt of $5,000 or more and an even
larger percentage of working Americans are living paycheck-to-paycheck.
Anticipating just
how much one might need to protect his or her loved ones is difficult, but life
insurance serves as a way to financially support your beneficiary. While life
insurance policies may vary on their terms and costs, the basic idea is that
life insurance can offer payments to your loved ones in the event of your death
to prevent your family from losing a home, car or taking on a second or even
third job.
 | ||
| Leslie Carlet |
According to
Leslie Carlet, President of American Benefit Partners, Inc., a Boca Raton-based employee benefits consulting and
management company, many companies continue to offer life insurance benefits or
opt-in life insurance for a small fee as an attractive benefit for employees.
“Life insurance
is an inexpensive way for employers to offer additional benefits to employees
to help retain and recruit staff,” Carlet says. “In the unfortunate
circumstance that an employee passes away, the family can turn to the employer
for a means of paying for final expenses through the life insurance vehicle.”
Life insurance
can offer peace of mind, but it’s important to focus on some truths about
insurance policies that many family members unfortunately learn the hard way.
Searching for a Loved One’s Insurance
Policy
 |
| Michael Hartmann |
Two days after
Michael Hartmann’s father passed away, he asked his mother about a life
insurance policy he was aware his father had. His mother knew about the policy,
but hadn’t previously shared the location of policy-related documents with her
family members.
“She thought the
insurance company would contact us to pay out on the policy,” Hartmann, CEO of FindYourPolicy.com says.
“I told her it’s our responsibility to contact the company and let them know my
father had passed away. After going through this experience, I thought there
had to be an easier way.”
After further
research, Hartmann found purchasing the life insurance policy is an important
half of the battle, but isn’t all you need to claim the policy:
• Many Americans
may be unaware of the company who carries a loved one’s life insurance policy.
Finding which company isn’t always so easy. There are a number of insurance
companies, both large and small, that could carry a policy, or the company
could have changed its name. Even if you count on a lawyer or other estate
guardian, details can fall through the cracks that keep you from obtaining
policy information.
• The burden of
contacting the life insurance company is on the beneficiaries. While a life
insurance company may send information about missed premium payments, if an
address is out of date, the letter may never reach your doorstep.
• The methods to
access life insurance policy recommendations aren’t foolproof. You can check
with the Medical Information Bureau if your loved one underwent a physical exam
to qualify for life insurance or query health records in an attempt to find out
policy information—but these methods are hardly foolproof.
A National Life Insurance Database
Hartmann took
what could have been an otherwise tragic situation and turned it into a life
lesson—and
business enterprise. Along with his twin brother Edmund, he started a website
called FindYourPolicy.com.
The website serves to bridge the gap between purchasing an insurance policy and
allowing beneficiaries to claim the policy.
Registration on
the site is free—you are asked to fill out information on the company who holds
the life insurance policy and the last four digits of the deceased’s Government
Issued Personal Identification number, which is your Social Security number in
the United States. Through registering on the site, your loved ones have one,
central location to turn to that won’t change addresses. In turn, you also can
search the FindYourPolicy.com database to find a beneficiaries’ life insurance
policy.
Life Insurance = Peace of Mind for Your
Family
Don’t give up on
life insurance’s power in helping your family through a rough and unexpected
time. Through FindYourPolicy.com,
you can protect your loved ones and your insurance policy.
“The entire
process takes no more than two minutes to register on a database that never
goes away,” Hartmann says. “It’s a great safety net, and it’s free.”
Ready to protect your loved ones? Visit FindYourPolicy.com
and register your policy for free or e-mail info@findyourpolicy.com. To link up
on social media sites, visit www.findyourpolicy.blogspot.com, on Delicious by clicking here or follow on Twitter: @FindUrPolicy.
For more information on American Benefit
Partners, Inc. services and consulting opportunities, call (561) 394-2881 or
visit www.abpbenefits.com.
Contact Amplification, Inc. for all of your social media marketing needs in South Florida. We help with content, counseling, access, interaction, consulting, teaching, hand-holding, helping and everything else you need.
Contact Amplification, Inc. for all of your social media marketing needs in South Florida. We help with content, counseling, access, interaction, consulting, teaching, hand-holding, helping and everything else you need.
