Most types of financial accounts allow you to designate a beneficiary, from checking and savings accounts to life insurance policies, 401(k)s, IRAs, pensions, and trusts. But when was the last time you looked at your beneficiary designations across all your accounts? Do you know which of your accounts have beneficiary designations and which ones do not?
Life Insurance for the Self-Employed
If you’re like most people, you bought life insurance to provide for your loved ones in the event of your death. But because you’re self-employed, you may have an even greater need for life insurance: You’ll want to protect your family after you die, as well as protect the financial needs of your business.