Insurance policy is important document that indicates how much money your beneficiaries can get in case you died. Insurance policy is an important document when claiming benefits. Without it, you can’t even tell the insurance company that your beneficiaries are eligible for claiming benefits. That’s why, it is important to keep your insurance policy in a safe place.
I have 2 insurance policies. They are both term life insurance. I am not sure if every insurance policy holder kept their policies the way I keep mine.
I organize all my important documents. I separate documents related to my investments such as copy of participation in mutual funds and unit investment trust funds.
All copy of participations, original receipt when I deposit fund in my stock brokerage account, insurance policy are kept in a safe place. I put the documents in a plastic. I put the documents in an envelope. The reasons why I put the insurance policy together with my COP and other original receipts is to protect the documents on now to get damaged. Say for example, in a flood or when it rains.
Insurance Policy is Important Document that Can Keep in the Bank
It is advisable to keep your documents in a bank. Deposit them in the bank. I know many people who deposited lot titles in the bank. Lot titles are important. Insurance policies are important. Copy of participation in mutual funds is important.
That’s the way I protect my important documents especially my insurance policy. What about you? How do you usually keep your insurance policy? Are you aware that insurance policy is important document or you just treat it as a usual or ordinary paper. Leave a comment and suggestions below. Share this tips with your friends! Always visit to Insurance Premium blog to get more useful tips like this. Subscribe to Insurance-Premium.Net 100% FREE newsletter.