What's your backup plan?
You keep flashlights around in case the power goes out. You have a doctor you can call in a medical emergency and a little money in the bank for a rainy day. But would your family be okay if something happened to you? Unless you prepare now, your family might not be financially protected.
Have a current will
If you don't have a will, your money, property and personal possessions may not go to the people you want and a court will make decisions on your behalf. With a valid will, you decide who receives your assets. And if you have minor children, you can name a legal guardian for them so they'll be taken care of by the person you think is best suited for the job. It's best to have an attorney draft your will.
Organize your financial records
If you don't, your family won't know where to find the information they need to settle your affairs. Keep your will, birth certificate, Social Security card, property deeds, vehicle titles, insurance policies, military records and other important documents in a safe place. Then write a letter of instruction telling your family where to find them. Include a list of your
bank, retirement and investment accounts and contact information for your attorney and anyone else who should be notified.
Ensure you have the right amount of life insurance
It may be impossible for your family to maintain their lifestyle without you. Life insurance can help your loved ones keep the family home and take care of outstanding debts, as well as provide money for future financial needs. Your Allstate Agent can help you figure out how much coverage you should have. Call for a complimentary Life Insurance Coverage Checkup.
Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC (LSA Securities in LA and PA). Registered Broker-Dealer. Member FINRA and SIPC, Main Office: 2920 South 84th Street, Lincoln, NE 68506, 877-525-5727. Life insurance issued by Allstate Life Insurance Company, Home Office, Northbrook, IL. In New York, Allstate Life Insurance Company of New York, Hauppauge, NY.< back to articles