Your financial future
Couples face decisions on banking and insurance
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Selecting the right bank
is not difficult if you know what to
look for, and this is often one of the decisions newlyweds have to
make immediately following marriage.
In choosing a financial institution, consider the
availability and accessibility of the following services and products.
A bank should be able to provide you with information concerning loans,
mortgages, investments and retirement plans, as well as savings and
checking procedures. A good bank should also feature a secure depository
for cash and credit capacity. But most important, a bank's areas of
expertise should coincide with your individual financial needs.
Once you have selected a bank, you as a customer can do your part to help develop a positive, profitable banking relationship.
First, as in any business relationship, the more you know about your bank, the better you
will be able to utilize services which are offered. Read brochures and, above all, don't be afraid to ask questions.
It's also important to develop relationships with
bank personnel and officers for assistance in achieving your financial
goals. Establishing regular contact with your account officer helps
ensure that your bank is prepared and willing to move quickly when
you need advice, products or services.
Finally, do your best to develop a good customer profile. Maintaining a good financial
track record, in addition to planning ahead, will help you to win points with your banker.
After all, a good customer/bank relationship is built on mutual trust and confidence.
A qualified life insurance agent
will help you evaluate all aspects of your finances. He or she
will assist you in analyzing employer-sponsored policies insuring
your health, life, and loss of income.
A very important task when you get married is to examine all your policies, both group and personally owned, to see if name and beneficiary changes are needed. If you acquired life insurance while single, your policy may list your parents as beneficiaries; you must specifically request that this be changed to your spouse.
The most important task an insurance agent can perform is to help you find any gaps or shortfalls in your protection. The agent
can then outline coverage options that suit your incomes, family situation and financial goals.
When selecting an agent, arrange an initial interview
to determine if the agent's approach and philosophy agree with your
own. Make sure you are comfortable with the agent you've chosen. Your
relationship could be lifelong.
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