How to Summarize Insurance for Your Survivors

Part of the Insurance For Dummies Cheat Sheet

It may not be a particularly welcome thought, but you generally purchase insurance for when things go wrong, and death is the last thing that will go wrong for you in this life. But the list you make now — and update annually — of your insurance policies can save your loved ones a lot of headaches at a difficult time.

Make copies of a list of all your insurance policies, investments, and bank accounts that includes the following information:

  • Policies and type: Umbrella, auto, home, health, dental, disability, and life insurance; and IRA, 401(k), and bank accounts

  • The insured item or person

  • The issuing company or institution and the policy or account number

  • Amount of coverage

  • Annual premium

  • Agent and contact information

On the same list include, phone numbers for the professionals knowledgable about your

  • Will and legal dealings (write down the location of your will)

  • Accountant

  • Investment manager or advisors

  • Banks and bankers

  • Insurance agent

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