Families are often hesitant to discuss life insurance details. Although these can sometimes be uncomfortable conversations, they are also important conversations. At Southwest Insurance Center serving Austin, TX, we want to help our clients feel comfortable and empowered when discussing this topic. Keep reading to learn more about discussing life insurance with your parents.
Why It’s Important
Discussing life insurance with your aging parents is important because when parents pass, adult children are usually the ones who handle arrangements. These adult children need to know the details of the life insurance plans that are active. If there are no life insurance plans active, adult children will want to discuss the importance of finding a plan to relieve the financial burden in the future.
Questions to Ask
When discussing this important topic, you will want to ask specific questions to ensure that you have the information you need to handle your parents’ final arrangements in the future. You will need to know who holds active policies, how much the policy will provide, and any other details concerning the policy such as loans that have been taken out against it.
You will also want to take note of your parents’ wishes concerning their final arrangements. It will be very important to them that they feel heard and that their wishes are respected in a compassionate way.
If your parents do not have an active life insurance policy, you will want to discuss with them the importance of shopping for something now, so that their final wishes can be handled in the appropriate way without additional financial burden.
If you would like to learn more about our insurance products, please contact us at Southwest Insurance Center serving Austin TX, and the surrounding areas.