Tools for Your Financial Well-being

$1.6 billion in unclaimed assets – that’s the news out of Pennsylvania, where the State Treasury Department is in hot pursuit of people it owes money to. Because people move from jobs, relocate, or change their names due to marriage or divorce, money often gets left behind. Nowhere is that more likely to happen than with life insurance benefits.

Chances are you’ve been a beneficiary on someone’s life insurance policy, or are one now. While you may know this, do you know what to do in the even of a loved one’s death? Where are the papers? Who do you need to contact in order to receive benefits? Have you been named a beneficiary and not told? There’s a chance you have money lying somewhere waiting for you. How to find it? And if you’re leaving money to someone, how will you be sure they get it?

Online database repositories are one way. Internet-based companies store your pertinent information in a secure database. Information can include location of safe deposit boxes, keys, passwords, and life insurance policies that are in force. One such company alone has already stored over 170 million records.

If you’re a broker, you can avoid the added burden of handling legal documents, as well as the risk of handling personal information, by utilizing an online database for your clients. If you’re a policy holder, sites are easy to use, affordable, and help your beneficiaries quickly locate all necessary information to settle your estate in a timely, cost-efficient manner.

We’re excited here at Opulen Capital because we now offer this service to brokers and life insurance policy holders. We have partnered with an online provider to extend our services and bring more peace of mind.

What’s good about services like this is that you can decide who gets access to your online information, and you can provide at-a-glance information on your last wishes, your policies, and your important documents to those you choose.

Financial advisors are jumping on board in hopes that more of their clients will use this type of information storage and retrieval, thus making it easier to deliver benefits to those listed on insurance policies.