In today’s world, the peace of mind that you have adequate life insurance and investments is a priority for us all. Generally, life insurance policies are issued based on factual information that you provide to the insurance company. The insurer relies greatly on the applicant providing factually correct, up to date and adequate information. In fact, as an applicant, this is a legal requirement as per the fine print on the application forms.
Often these policies are taken out and not thought of again for many years until they become necessary. It is important to consider that in this time information and details could change. The onus is on you as the insured to keep the insurer up to date with new information.
Sadly, many policyholders have been prejudiced due to what may seem insignificant, such as spelling errors or small mistakes in the original policy application or official documents issued to you. In other instances, they have found out too late that important information (such as the correct beneficiaries), had not been updated for many years, resulting in an outcome that was no longer their intention as far as their life insurance or investment policies is concerned. Policyholders would very often then need to obtain the expensive services of an attorney to assist them in navigating this legal minefield with the insurer. It is also unlikely that they would be successful if the information provided had never been updated by them. Once again, the onus is on you to keep this information up to date.
Find My Funds provides you with an up-to-date overview of all your life insurance and investment policies, no matter where they may be. Even if they are distributed between various brokers or insurers. Doing a regular check on these policies will ensure that you have the peace of mind that in the event of a claim or a need to draw from these policies, your information is correct, up to date and in line with your wishes at all times.