So you already have Minnesota life insurance—that’s that, right? Don’t forget about safely storing your information so your beneficiaries can find it. The Insurance Information Institute recommends keeping copies of your life insurance records in at least two separate places, to make it less likely that you’ll lose them. Here are some of their other recommendations.

(Image courtesy of lateralcode.com.)

Record the following for each life insurance policy you have :

• The full name of the life insurance company
• The city and state of the home office of the company
• The name and U.S. headquarters of the group if they have one
• The policy number
• The date it was issued
• The amount of the death benefit
• The name and address of the agent who sold you the policy
• The type of policy

Store the information in multiple places:

• Keep one set in your home in a place where your beneficiaries will find it (perhaps with other financial records and legal papers, like your will.)
• Keep one set of records somewhere else, like in a safe deposit box or with a relative.
• Tell your beneficiaries where you’ve stored your information.
• Every time you update life insurance information on your records, record the date. (That way, if the copies differ when they’re found, it will be easy to tell which information is current.)