5 ways to screw up your life insurance
Last updated Dec. 19, 2011
If you've had the good sense to buy life insurance, you're probably reasonably conscientious about planning for your financial future.
But even the most thoughtful among us can make boneheaded blunders when dealing with insurance companies.
Here are five ways to screw up your life insurance -- and some tips to avoid these costly mistakes.
Pages in this slideshow:
- 5 ways to screw up your life insurance
- 1. Neglecting to tell your beneficiaries that you even have life insurance
- 2. Buying life insurance to benefit multiple people but naming only one beneficiary
- 3. Forgetting to update crucial personal information
- 4. Repeatedly dipping into the cash value of your life insurance
- 5. Dying with a large, underutilized cash value