Last week, we held a highly informative and frank discussion, led by Kellan Goldberg, founder of Eleven Eleven Advisors, about the different types of life insurance and how to determine which type is right for you and your family.
During the session, Kellan covered such topics as determining the amount of life insurance you need, what kind is appropriate for you, the process of obtaining insurance, and the benefits of reviewing existing coverage.
In case you missed it, you can find a link to the class re-play here for your ongoing reference and support.
There were a few items that Kellan mentioned during class that she’d like to share here:
Broker Check Lookup Tool
- You can go to finra.org to utilize their Broker Check lookup tool to research any insurance professionals people are considering working with.
Uniform Transfer to Minors Act
- For people who have minor children listed as their beneficiaries and don’t have updated wills, there is language you can use as a stop-gap measure, called the Uniform Transfer to Minors Act.
- The beneficiary information should be worded as: “(Guardian Name), (relationship to insured), as guardian of (child(ren)’s names), (relationship to insured) under the Uniform Transfer to Minors Act.”
Example: “John Smith, brother of the insured, as guardian of Timmy Smith, son of the insured, under the Uniform Transfer to Minors Act.”
Kellan mercifully helped simplify insurance and demystified insurance jargon – helping attendees feel empowered to get this very important to-do list item done!
She may be contacted at
Eleven Eleven Advisors
2 Park Avenue, Suite 300
New York, NY 10016
P 212-732-0138
F 646-774-0944
C 646-732-1377
kellan@1111advisors.com
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The views and opinions expressed on this blog are purely the blog contributor’s. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer or provider. Writers may have conflicts of interest, and their opinions are their own.
