It makes sense to learn as much as you can about your life insurance. Education about the different kinds of life insurance available including the coverage and associated benefits of life insurance can help you make the best decision for you based on your circumstances. When you know which comes first – a a will or life insurance policy – you will find it easier to make end of life decisions.

Insurance education is beneficial and necessary. It is important to know that the beneficiary designations that you make in a life insurance policy will always supersede a will. What must  you be aware of then? Well, you will need to spend some time to determine the life provisions that you have made, designate your beneficiaries and choose the right benefits of life insurance for you.

There are many questions that come up regarding understanding the differences among different types of insurance beneficiary designations. An important one to know about and clear any confusion about regards the differences between a will, a power of attorney, a health-care proxy and a living will.

These documents are actually all necessary when you think about your plans upon your demise and how to handle affairs subsequently. All of these four documents have different benefits of life insurance. For example, a will explains what happens to assets when you die while the power of attorney authorizes someone to take care of your bills. A health-care proxy will designate someone to make medical decisions and a living will states what kind of decisions you give the person designated in the proxy to make for you.