Have you purchased a New Jersey life insurance policy? It’s important to remember that someone other than you will be filing any claim on your life insurance policy, so make sure you have complete records relating to the policy as part of your personal papers.
There are a few essential items of information to be noted.
- Record the name of the company issuing the policy and the address of its headquarters.
- Record the name and contact details of the agency that sold you the policy.
- Record the policy number, type of policy and date it was issued.
- Record the amount of death benefit purchased.
- Identify the beneficiaries you wish to receive the insurance payment.
Be sure to record where the original copy of your New Jersey life insurance policy is stored. It’s important to keep all of this information up to date by recording any changes that may take place over time, such as changes of name. Take copies of your life insurance records and store each copy in a separate place. One copy of the records should be in a place where your beneficiaries will look for them, and a backup copy should be kept somewhere away from your home, in a safe deposit box, a friend’s house, or as a digital record. Keeping this information up to date will ensure a stress-free payout in the future.