What Good is Life Insurance if No One Collects?

Some very important tips are mentioned in this WSJ article by Jennifer Openshaw.

Make sure to inform your beneficiaries that you have a life insurance policy and that they are listed as one of the beneficiaries (or the sole beneficiary.) In addition, give them the name of the life insurance company and your policy number.

Mention the policy in your will or keep a copy of the policy with your other important documents in a safe place, but make sure it is accessible to the executor or person that will need it when the time comes.

Many life insurance policy benefits go unclaimed due to the beneficiary not knowing money is owed to them. Make sure your loved ones are NOT one of those!
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