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Shopping for Homeowners Insurance? What you Need to Know

Whether you are purchasing your first home insurance policy or seeking to update your coverage, talk with your SelectQuote agent to make sure you’ve got your bases covered. Things may seem complicated, even with a basic understanding of how home insurance coverage works. It makes sense to have questions for an expert when you shop for homeowners insurance. Here are five important questions to ask your SelectQuote agent about homeowners insurance. Does my homeowners insurance policy cover replacement cost or the actual cash value? Insurance agents strongly suggest replacement cost policies. However, some homeowners purchase actual cash value policies because…

3 Reasons Why Single People Also Need Life Insurance

You hear it all the time: If you have a spouse, children or other family members who depend on your income, you need life insurance. While this is certainly true, it can lead to the misconception that life insurance is unnecessary for single people. Unless you plan on never acquiring any debt, having any funeral expenses, or succumbing to an accident or medical condition, you need life insurance – even if you’re single. Here are three reasons to buy life insurance regardless of your marital status. Debt Trumps Death If you’re single with no dependents and pass away with outstanding debt,…

Life Insurance After Divorce

shutterstock_124671304When a marriage is legally dissolved or annulled, the rights of your spouse to your will, trust, power of attorney and several other items on your financial checklist will automatically be null and void.

But did you know that divorce does not automatically cancel your ex’s rights as beneficiary of your life insurance policy? If you acquired a life insurance policy and named your spouse as the beneficiary, you have to take very particular steps to change that. If you don’t, your ex-spouse could become the recipient of a payout upon your death!

It’s an easy thing to miss. With all the more pressing legal and financial issues to sort out during a divorce, life insurance policies might get placed on the back burner.