LinkedIn Twitter Facebook Donahue Stangle Brown Insurance Agency Insurance Insurance Insurance Insurance Insurance

Choosing the beneficiaries for your life insurance policy is one of the most important decisions you will make.  Life insurance is, after all, meant to protect your family and loved ones.  While your immediate family may seem to be the obvious choice as your life insurance beneficiary, there may be other people and organizations which rely on you that you do not want to forget.  Here are some of the most common-and commonly forgotten-life insurance beneficiaries you need to consider, and tips on how to decide how much you should allocate to each.


Children And Spouse-For most of us these are the beneficiaries to whom most of our funds will go.  It is important to ensure that you choose a policy that will not only cover their daily expenses, such as any outstanding debts and mortgage payments, but also future expenses such as tuition fees for your children and a retirement fund for your spouse.

Parents-If your parents rely on you for help with expenses such as medical fees, prescriptions, or other living expenses, it is important that you leave a portion of the coverage to them.  This will give you-and them-the peace of mind of knowing they will be covered.

Other Family And Friends -Whether it be siblings, nieces or nephews, or other close friends who rely on you for various expenses, ensuring that they are covered is important.

Business Partners Or Employees-If you own a business or are involved in any business ventures with other individuals, making sure that their interests are protected is important.  It is also important that you have the necessary protections in place for any employees you may have to ensure they are not put in a difficult financial situation.

Charities And Organizations-If you offer financial support to any charities, organizations, or groups that rely on your support, making sure that it continues after you are gone is an important part of taking care of your responsibility in estate planning.  An easy plan is to allocate an amount similar to that you currently provide over several years.

Protect your Love Ones.  Get a Life Insurance Quote today!

Join our Monthly "Insurance Insights' Newsletter.    

We at Donahue-Stangle-Brown and Cope Insurance Agency are an independent insurance agency that represents several insurance companies here in Ohio.  Let us do your insurance shopping for you.  We offer a wide range from auto insurance,home insurancebusiness insurancebusiness auto insurancelife insurance and farm insurance.  Please contact one of our professionals today at 740-998-5544 in Frankfort or 937-981-2272 in Greenfield.  You are also welcome to contact us via EMAIL.


Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive

View Mobile Version
20 N. Main St | Frankfort, OH 45628 | 740-998-5544 | 937-981-2272 | Fax: 740-998-5549
Powered by Insurance Website Builder