Sandra Bailey, Life Insurance Agent
Sandra Bailey
Women Financial Power, LLC
Life Insurance Agent Licensed in TN
Contact Details
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Location
Cordova, TN
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Website
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Sandra Can Help With:
About Me
Hi, my name is Sandra and I am your local life insurance agent. My passion is helping families prepare for the future by finding coverage that offers peace of mind and financial protection. I will guide you through the options available from nationally and locally trusted companies — at no cost to you.
Q&A with Sandra Bailey
Can I change my beneficiary on a life insurance policy?
Answer: You surely can! If it’s a revocable beneficiary.
You can contact your insurance agent or you can call the insurance company to request the change.
If it’s an irrevocable beneficiary, you cannot change it without their convent. However, most life insurance beneficiaries are revocable, unless you told your agent to make them irrevocable.
Therefore most likely yours is revocable, thus can be changed. I have never written an application with an irrevocable beneficiary but just saying it can be done both ways.
You can check your application that’s included as part of the life insurance contract. Check the beneficiary section to see what type of beneficiary is checked.
Hope this helps. Long answer but all the details :-)
What is the most common mistake people make when buying life insurance?
Answer: A mistake I’ve seen is when people purchase life insurance from a tv ad & not speak with a broker. Some plans advertise, no one will be turned down. Many times they will place you in a guaranteed issue life insurance plan. Some of these plan require a 2-3 year wait before the claim is paid. Now if your health is poor, this may be the only plan you’ll qualify for. But you should at least try for a level plan 1st. They”!!
2nd thought ….
I don’t believe you can make a mistake when buying life insurance. However, you must ask yourself: Why do I want life insurance?
Do you want it for a specific period of time? For mortgage protection or to make sure your minor children get through college if God called you home too soon.
Do you want a permanent plan that won’t expire?
For burial or final expenses, for leaving a legacy, estate planning, supplementing retirement with cash value, wanting long-term care or chronic illness included in your plan.