Consider the total cost of your policy.
Some life insurance policies appear to cost more, but may, in fact, be cheaper when you examine the total cost.

Don’t underestimate your needs.
Before shopping for life insurance, be sure to calculate your total needs. Buying one policy with greater death benefit at a younger age will most likely be less expensive than adding additional coverage, as you get older and your financial position changes.

Term insurance first.
Try buying term insurance for at least 6 months. Remember, you can convert term to permanent, but not permanent to term.

Compare costs.
If you’re considering the purchase of permanent life insurance, compare costs and benefits of Whole, Universal and Variable policies to your own term plan. You may save money!

First-to-die policies.
First-to-die permanent life insurance policies pay cash benefits regardless of which spouse dies first. Covering both spouses with one policy can be cheaper than buying two policies.

Consolidate policies.
If you have a number of small life insurance policies, you can save money by consolidating your policies into one larger policy that offers the same coverage.

Improve your health.
Quit smoking, eat healthier and exercise regularly. This will decrease your premiums and increase your life expectancy.

Consider your hobbies.
If you skydive, deep-sea dive or participate in any other high-risk activities, your premiums will be more expensive for obvious reasons.

Shop now.
There is no time to waste. It is important that you do your shopping now while you are in good health, insurable and can qualify for a good rate. Remember, the longer you wait, the older you will be and the higher your rates may be. So, it’s advisable to lock in your best rate now and stick with it!

Settling the affairs of another person can be very difficult if important documents can’t be found. It’s always a good idea to keep copies of these documents in a secure place, such as a safe deposit box. Be aware that only those listed as authorized users of a safe deposit box may be given access to it. In many state, if a survivor/beneficiary is not listed as an authorized user, he or she will have to obtain authorization from the county or state government courts to gain access. If this is the case, contract the bank and your attorney for assistance.

The following is a brief list of documents that you will need to settle the affairs of a deceased family member or friend.

Certified Death Certificate

You will need approximately 10-15 certified copies of the death certificate to apply for any benefits, file tax returns, and gain access to bank accounts. Your funeral director can get them for you, or you can contact the county clerk directly. You may also get additional copies of the death certificate several weeks after the death by contacting your county’s Vital Statistics Office.

A copy of the Will or Trust

If you can’t find a copy of the will among the deceased’s papers or in a safe deposit box, you should contact the deceased’s attorney. If the deceased moved during his or her adult life, you may have to contact a previous attorney in another city.

Federal Income Tax Filings

Federal income tax filings are a good source of basic financial information. They include lists of bank accounts, employers, investment accounts, and other assets the deceased may have had.

Insurance Policies

Be sure to set aside all insurance policies you find. Although life insurance is the primary focus after a death, you will also have to make changes to auto, property and other insurance policies. If you are unable to locate the Life insurance policy, you may fill out a Lost Policy Statement on the claim form. You may also contact the agent who wrote the policy; he or she will have a copy of the policy on file. If you feel that the deceased owned additional life insurance policies buy are unable to find them, contact the American Council of Life Insurers.

Social Security Numbers

For purposes of administering the will and life insurance, survivors will need to provide Social Security numbers of the deceased, deceased’s spouse, and all dependent children. The deceased’s Social Security number will be listed on the death certificate.

Birth Certificates for Dependent Children

If you cannot find birth certificates, you can obtain additional copies from the state or county public health department where the children were born.

A list of all properties and assets

You may find this information among the deceased’s papers or computer files, in a safe deposit box, or on file with the deceased’s attorney. Look for deeds and titles for homes, cars, and boats as well as records for investments, pension funds, and bank statements.

Marriage License

The spouse of the deceased will need a copy of the marriage license to apply for certain benefits, such as Social Security. A copy of your marriage certificate can be obtained through the clerk’s office of the county in which you were married.

Military Discharge Papers

To receive veteran’s benefits, you’ll need a copy of the deceased’s military discharge papers. Refer to the section on “Military Funeral Options” for information.

Selecting a Funeral Home

The funeral director you choose plays a critical role in planning the memorial, funeral, or burial and can help you manage many other details. When choosing a funeral home, be sure to select one that is well established in the community and is a member of the National Funeral Directors Association (NFDA). If you are unfamiliar with the funeral homes in the area, ask a relative, friend, doctor, or clergy person, or contact the National Funeral Directors for a listing of member funeral directors in the area.

Once you’ve contacted the life insurance company and filed a death claim, the insurance company can begin the claim process. In most cases, the life insurance company can pay funeral expenses directly, subtracting those expenses from the benefit amount and leaving you free from the obligation of writing checks.

The cost of a funeral can vary greatly depending on the plans you wish to make for the service. Funeral homes are obligated by law to provide price lists over the phone of all available services. Although you are undoubtedly pressed for time, you would be best served to call at least two funeral homes to compare prices. And be sure to compare package prices, not just individual service prices. Most funeral homes should have separate price lists for general services, caskets, and outer burial containers. Only by using all three lists can you accurately evaluate the total costs and be able to compare prices.

If the deceased’s wishes were to have a simple, inexpensive burial, ask your funeral director about Immediate Burial or Direct Cremation. These are cost effective yet dignified ways to put a loved one to rest.

Writing a Death Notice

In most cases, death notices are fairly factual in nature and don’t include a lot of editorial language or reflection. Obituaries tend to be more editorial in nature and are traditionally written by newspaper editorial staff members, although you may certainly write an obituary and present it for publication to the editorial staff.

Most newspapers consider death notices to be “advertisements” and charge a fee for running them. Be aware that some newspapers refer people to freelance writers to help survivors write death notices. While the writer’s time might be free, a more in-depth and longer notice will cost more to run in the newspaper. In that case, you’re better off writing the notice yourself, using the following questions as a guideline. A recent resume for the deceased can be a good source of education and career information. If you’re uncomfortable writing the death notice, ask your funeral director for help. He or she deals daily with writing and placing death notices.

• Name (maiden name included)
• Date of Birth
• Place of Birth
• Address
• How long in town?
• Date of Death
• Place of Death
• Previous residence
• Education/career
• Church/temple
• Civic activities
• Memorial donations
• Spouse (deceased or living) -Town
• Surviving parents -Town
• Children -Town
• Grandchildren/Great-grandchildren -Town
• Brothers/Sisters -Town
• Funeral Service time, place and date
• Burial
• Funeral Director
• Family contact -Phone