PANTA FAMILY


Tuesday, June 5, 2007

Issues to talk about

Once you have successfully begun a dialogue with your parents about insurance, make sure you cover all the pertinent issues. Here are some you should not miss:
  • What policies do they currently have?
  • What policies do they have, but no longer need?
  • What policies don't they have, but need?
  • What are the details of their current policies?
  • Do their current policies provide adequate coverage? too much coverage?
  • How much can they afford to pay for premiums?
  • If there are beneficiaries, are the proper persons named? Have the proper designation forms been completed?
  • Who should be responsible for paying the premiums (you or your parents)?
  • Where are the policies kept?
  • Who is their insurance agent?

In addition, make sure you address each type of insurance that may be important for your parents, which may include:

  • Health insurance
  • Long-term care insurance
  • Life insurance
  • Homeowners insurance
  • Auto insurance
  • Disability insurance (though this may not be important if your parents do not have job earnings to replace)

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