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How should I organize and store my life insurance records?

How you organize and store your insurance records can make all the difference in the world to your beneficiaries. The non-profit Insurance Information Institute has some helpful tips:

What information should you keep?

  • The name of the issuing life insurance company
  • The location of the company’s home office
  • If the company is part of a group of companies include the name of its U.S. headquarters
  • The policy number
  • Date of issuance
  • Death benefit amount
  • Name and contact information of your local agent
  • Location of your actual policy
  • The type of policy (whole life. Term, etc.)

Where to store life insurance records.

The institute suggests keeping your insurance records along with your other financial records in your home and at another off site location. This may be in a safety deposit box, with an attorney or accountant, or with a relative. You should make family members aware of where these records are kept.

Organizing life insurance records can be a big help for your loved ones who are left behind. If you have any questions regarding your policies or would like a review please contact us at the Insurance Agency of Dean Davis.