Kansas Insurance Department

The holiday season, when family members gather, can be a good time to have conversations about how to protect and insure relatives and property, according to Ken Selzer, CPA, Kansas Commissioner of Insurance.  Kansas Insurance Commissioner Selzer and the staff at the Kansas Insurance Department offer the following ideas for those family discussions.
• Know where insurance and legal papers are. Policies, phone numbers, financial statements and legal documents such as Power of Attorney and home inventory checklists should be in a safe deposit box at your financial institution or in a fire-proof location within the home.
• Know what medications are taken. Kinds, dosage, frequency, use of generics, pharmacy information — all can be important to share with close family members.
• Know about the condition of family vehicles. Are they sound mechanically, serviced regularly, stocked accordingly with travel necessities?
• Know what your teenagers and young adults are concerned about. Getting them to open up might take a while, but they could have questions about life situations and insurance that are important to them and to you.
• Know a qualified insurance professional and financial adviser, and let him/her assess your insurance needs. Just like the generations of your family, insurance needs change.
• Know when insurance premiums are due — yearly, semiannually, quarterly or monthly. Keep them on a centrally-located calendar. This idea can be truly helpful for a single adult, a young family or empty nesters on a fixed income.
• Know, in the case of older family members, what their health insurance policies contain and what their medical preferences are for providers and institutions. Ask them if they have preferences on how to handle situations where they need assistance.