Naming a beneficiary is one of the most critical parts of a life insurance policy. However, sometimes your life changes in Boise, ID. You may no longer want the original beneficiary to receive the proceeds, but can you change the designation? Fuhriman Insurance Agency can help you name or change beneficiaries on your life insurance policies.

Who Can Change a Beneficiary?

The person who took out the life insurance policy is the only person who can designate or change a beneficiary. Most companies only allow one beneficiary, but some policies allow you to list more than one. You should also be able to name a contingent beneficiary to receive the payout if the primary beneficiary has died or cannot receive the funds. You can change your beneficiary virtually without a fee or penalty.

Some situations require you to get approval before you change a beneficiary. For example, if you have your spouse listed as the beneficiary and want to change it to one of your children, you’ll need your spouse’s permission because Idaho is a community property state. You’ll also need permission if you have a designated power of attorney or an irrevocable beneficiary.

Keeping Your Beneficiary Designation Up to Date

Like trusts and wills, you should review your life insurance documents periodically to ensure the policy reflects your wishes. Certain life events, such as divorce, marriage or remarriage, having a child, or the death of a loved one, are times when you should review your policy. If you fail to keep your beneficiaries current, the wrong person could receive the funds.

If you’re interested in changing your life insurance policy beneficiaries, Fuhriman Insurance Agency, serving Boise, ID, can walk you through the process and ensure you have the proper designations. Contact us to schedule your consultation.

For some, insurance may seem complex or even a bit boring. At Fuhriman Insurance Agency of Boise, ID, we have a different point of view. We see insurance as a valuable financial and asset protection product that helps secure our clients’ futures. Insurance can evolve and adjust with changes in your life.

A good example is life insurance. There are times when risks in your life can be reduced through an increase in life insurance. Here are a few.

When You Have a Child

Having children increases your responsibilities and risks. These responsibilities last through a child’s early adulthood, so parents should increase life insurance during this period.

When You Buy a Home

Whether you finance a home for 15, 20, or 30 years, additional life insurance can cover your remaining mortgage balance. Many will buy 20—or 30-year term insurance to provide additional protection during these years.

When Buying or Starting a Business

Buying or starting a business gives you additional responsibilities to your business partners and employees. If you are also a key employee, that increases the risks to your business in the event of your death. Additional life insurance can help cover the risks and responsibilities of ownership until your company can mature.

Peak Earning Years

The amount of life insurance you carry should be reflective of your earning power. When your income is rising, so should the life insurance you carry.

Reach Out to Fuhriman Insurance Agency For a Quote Today

Make sure your insurance coverage adjusts to your lifestyle and financial situation. We can help. If you live in the Boise, ID, area, get the service you deserve from Fuhriman Insurance Agency today. We provide personal, exceptional coverage and service our clients appreciate.

We look forward to assisting you.

Secure the Future of Your Loved Ones with Life Insurance

The unpredictability of life underscores the importance of securing the future of your loved ones with life insurance. This financial safeguard assures you that your family is protected even in your absence. If you’re based in Boise, ID, Fuhriman Insurance Agency is your ideal partner.

Strategically Planning for Your Family’s Financial Health

Our life insurance policies are not off-the-shelf products. They are meticulously crafted based on your unique requirements. When choosing a life policy, it’s essential to consider the policy’s size, the term, and whole-life options. Each of these parameters has its own benefits and drawbacks, making a well-informed decision crucial.

Whether it’s maintaining a specific lifestyle or securing assets, life insurance plays a vital role. It’s a responsible measure that ensures your family doesn’t have to compromise on their quality of life, even in your absence.

Tailored Insurance Plans for Your Peace of Mind

Understandably, navigating through this important financial decision can be overwhelming. Our experienced agents are there for you every step of the way. They provide the guidance and expertise needed to make a well-informed decision serving your family’s best interests.

Our inclusive approach centered on your needs ensures we understand your priorities. This understanding allows us to collaborate with you effectively in choosing the best-suited life insurance policy.

Connect with Fuhriman Insurance Agency Today!

If you’re in the Boise, ID area and searching for a comprehensive life insurance policy, don’t hesitate to contact us at Fuhriman Insurance Agency. Our dedicated specialists are ready to assist with your life insurance needs. Their expert guidance results in a clear understanding of the most suitable policy. Let us help you put an end to your uncertainties and embark on the path to a secure future for your family.

Getting a life insurance policy is the responsible thing to do when you have people who rely on you. With life insurance, you can leave something behind so that your loved ones aren’t financially devastated after you pass away. Many people don’t want to think about life insurance, but it’s essential to consider it and figure out how much your beneficiaries will need once you’re gone. Call us at Fuhriman Insurance Agency in Boise, ID, to get a policy and learn more. 

Term Life Insurance

This type of life policy has an active period and an expiration date. When you get one of these policies, it will be clear how long the policy will stay in effect. You will be given several years, such as 20, for which the policy is good. You’ll also be given an expiration date. Once that date rolls around, the policy expires. You’ll need to apply for a new policy to protect your loved ones again. This type of insurance is inexpensive and fits into a budget much better than a whole life. 

Whole Life Insurance

When you don’t want an expiration date, you might want to get a whole-life policy. These don’t ever expire. They stay good for as long as you live. Even if you become quite elderly, the policy will stay good. The trade-off is that this type of policy is more expensive than a term life policy. These policies also grow a monetary value you can borrow against during rough financial times. 

Get Life Insurance

Regardless of your choice, life insurance policies are a must for everyone. When you’re ready to choose a life insurance policy, you can contact us at Fuhriman Insurance Agency in Boise, ID.

Life in Boise, ID is full of uncertainties and unexpected things, and sometimes we find ourselves caught off guard. That’s why having a solid financial plan is crucial, especially in managing unpredictable circumstances. One of the most vital components of any financial plan is life insurance. Fuhriman Insurance Agency has life insurance policies to fit every stage of life.

Take Care of Your Loved Ones

Life insurance is a safeguard that can provide financial assistance to those left behind in case of the unexpected. Your family may have to cope with many expenses like funeral costs, medical bills, and debts you might have left behind. Life insurance can help cover these costs and offer financial support to your loved ones in their time of need, allowing them to cope with a difficult period without worrying about their financial status.

Protect Your Business

Without a proper plan in place, business owners run the risk of not securing their company’s future. Business life insurance can protect businesses from unforeseen circumstances like the death or disability of an owner or a key employee. It can also offer flexibility in circumstances like selling or retiring. Getting business life insurance can provide peace of mind to business owners and offer security to employees in case of unexpected happenings.

Life insurance planning is an investment that focuses on your family’s future in Boise, ID. It’s hard to know what the future holds, but having a solid financial plan can provide peace of mind and help alleviate any financial stress our loved ones may face. Speak with Fuhriman Insurance Agency today to discuss your life insurance options and best plan for your needs and budget.

If you have dependents who rely on you financially, you need to purchase life insurance. Consumers in Boise, ID can get life insurance from us at Fuhriman Insurance Agency. 

There are some priorities that it’s essential to focus on when you’re buying life insurance. The following are three priorities you should be focusing on when making life insurance decisions. 

Providing for your family in the future

Buying life insurance is to provide financial support for your family if your income is lost because you pass away.

You need to choose a policy that will adequately support your dependents and allow your dependents to maintain their quality of life if they pass away. 

Choosing a policy that offers an adequate amount of coverage

Crunching the numbers and figuring out how much coverage you need is important. Factors including the number of dependents you have and how much longer your dependents will rely on you financially help you to determine how much coverage you need. 

Fully understand the details of your policy.

A life insurance policy is a complex financial product. It’s important for you to thoroughly understand your policy and what it covers to know if it is adequate for your needs.

Consumers should understand the type of life insurance policy they have. Policy types include whole, universal, and term life insurance. Ensure you understand the merits of each of these policy types to choose the best one for your needs. 

Are you ready to find a life insurance policy to protect your family? You can get a quote on a policy by calling us at Fuhriman Insurance Agency. We’re happy to offer life insurance coverage to consumers in Boise, ID. 

When people in Boise, ID think of life insurance, they want a policy to provide financial security for their family when they are gone. But the two major types are term life and whole life insurance. Which one is right for you? Read on to learn more from Fuhriman Insurance Agency.

Term Life Insurance

Term life insurance covers a specific period, usually 10, 15, 20, or 30 years. This type of policy pays out a death benefit if the insured person passes away during that period. It is generally more affordable than other types of life insurance because it does not build cash value and the premiums remain fixed over the length of the term. 

Whole Life Insurance

Whole life insurance protects your entire lifetime and builds cash value over time that can be borrowed against or cashed out when needed. Whole life policies also come with an investment component that allows you to earn dividends or interest on your money within the policy itself. While this type of policy is often more expensive than term life, it provides lifelong coverage as long as premiums are paid on time and in full each month.

Can I Have Both?

Yes! Having both term and whole life insurance in Boise, ID can provide additional protection for you and your family and peace of mind knowing that there will be coverage regardless of what happens in your lifetime. 

Do you Still Have Questions? Call Us Today!

Deciding which type (or types) of life insurance to purchase can be overwhelming, but it doesn’t have to be. Contact Fuhriman Insurance Agency today, and we can help you find the right policies.

Are there any exceptions where the life insurance company would not have to pay out the death benefit to your beneficiaries? It turns out there are a few. Fuhriman Insurance Agency lists some of the most common ones in Boise, ID.

1. Suicide 

In almost all cases, if you die by suicide within the first two years of buying a life insurance policy, the insurer can refuse to pay the death benefit. After two years have passed, though, suicide is generally no longer grounds for denial. 

2. Drug and alcohol use 

If you die from using drugs or alcohol, your life insurance policy may not cover it. This is because drug and alcohol use are considered high-risk activities that can lead to death, so insurers may exclude them from coverage or charge higher premiums for policies that cover them. 

3. Dangerous hobbies 

Certain hobbies, such as skydiving, rock climbing, and bungee jumping, are considered high-risk activities that could lead to death. As a result, your life insurance policy may exclude them from coverage or charge higher premiums for those that cover them. 

4. Not disclosing pre-existing medical conditions 

When applying for life insurance, you’re typically required to disclose any pre-existing medical conditions. Failure to do so could result in the insurer refusing to pay the death benefit if you die due to that condition. 

5. Murder 

If you’re murdered, your beneficiaries will likely still receive the death benefit. However, if convicted of murdering you, they will not be eligible to receive the money. 

There are some exceptions where beneficiaries may not receive the death benefit. If you have any questions, don’t hesitate to contact Fuhriman Insurance Agency. We are here to help Boise, ID.