Updating Your Life Insurance Upon Marriage

If you are recently married or remarried, it is important to be sure that your financial affairs are in order, and this includes designating your life insurance beneficiary. Especially in the case of remarriage, forgetting to change your life insurance beneficiary to your new spouse is a very common problem, but it is one that simply cannot be overlooked.

All newlyweds should sit down together and review all life insurance policies, checking that all names are listed correctly. Make any necessary changes immediately. While you are at it, check the names on more than your life insurance policies: all insurance documents, wills, and retirement accounts should be updated accordingly.

This is also a good time to inventory your assets and formulate a plan in the event that you or your new spouse dies. Keep your inventory up-to-date, and keep all of your documents in a safe place.