The last thing you want to leave your family members with is a frustrating treasure hunt for the information they need in order to deal with your death while they’re also dealing with their grief.

Your executor will need to know about any life insurance you may have, including creditor insurance that automatically pays an outstanding loan balance (such as on a credit card, auto loan, or mortgage). Many of us carry this creditor life insurance but do not give it much though. Be sure to provide information for ALL of the insurance coverages you have including individual life insurance and coverage you may have through a current or past employer (important for retirees). Once the insurance company has the information it needs, it reviews the claim and, once approved, pays out the proceeds according to the terms of the contract.