There are dozens of stories about families who lost one of their primary earners and found themselves in a horrible financial situation. You can insure that your family will not be lost without you if you just follow these tips, though many people are scared to even think about life insurance.

When setting up a life insurance policy, be aware of the holder of responsiblity for the funds. The “adult payee” determination has no legal standing. Simply naming someone as the “adult payee” on behalf of someone else on a policy does not require the payee to spend those funds in care of the intended recipient.