How to choose beneficiaries when planning an estate? How many beneficiaries can be designated? What are the precautions?

4. Keep multiple copies

It is recommended that you keep multiple copies of the letter, one for you, one for your executor and one for your lawyer. Make sure your personal copy is easy for family and friends to find.

5. Review and update annually

Once you have written your letter, review it and update it annually to reflect any assets that have been added or lost from the estate, ensuring that it remains accurate.

Which companies offer policies that do not require medical examinations and take effect immediately?

Bestow : Founded in 2017, Bestow does not require a physical examination before purchase. The company will use a proprietary algorithm to evaluate the physical health of the insured. Compared with other life insurance that takes several weeks, Bestow only takes a few minutes, and the entire process is done online without contacting an insurance broker. However, Bestow’s life insurance options are limited, with only two types of term life insurance, 2-year and 10-20-year. Bestow’s rating is A+.

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Ladder : Founded in January 2017, Ladder Life Insurance is flexible and suitable for policyholders who want to customize their life insurance. It is rated A. The company only provides term life insurance for 10-30 years, but during the insurance process, the policyholder can increase or decrease the coverage amount without paying any additional fees. The life insurance application process is online and no physical examination is required. Fidelity life insurance policies are sold in 49 states in the United States, and Allianz Life Insurance Company of New York policies are sold in DC and New York.

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Fabric : Fabric offers term life insurance, wills, and other products that can help improve a family’s financial life. Their term life insurance includes 10-, 15-, and 20-year terms, with coverage ranging from $100,000 to $5 million. You can also use Fabric’s tools to create a will or sync other family finances. Fabric’s online customer service is highly rated, but unfortunately, their insurance is not available in every state.