As you organize your important documents, remember to adjust your file to your needs. In sharing a way to organize, I use my file as a guide.
If there is only one adult in your household, then you will only need one file opening. However, if your family has more than two adults, then you will need more file slots to house those documents.
My system works for me which may or may not work for you. Feel free to copy my file while choosing an organizing pattern that fits you and your family’s needs.
In our life insurance category, I have allotted three file openings to house these documents. My husband’s policies go in the first slot, my records in the second, and our children’s documents in the third pocket. Working with my policies, I have three bundles: term life insurance, combination life and long-term care, and accidental death.
Accidental Death Insurance
Just this week I received notification that one of my accidental death insurance policies has changed carriers. Our credit union chose to move from one provider to another, and the letter of this change arrived on my desk this week.
Accepting the Free Coverage
Since I already have the free-to-me base coverage, my policy will continue, but I must name my beneficiaries.
Choosing your Beneficiary
Per this letter, I must contact the new company in writing with my beneficiary designations. I plan to send my primary and contingent beneficiary designations to this new company pronto.
My choice is one primary and two contingent beneficiaries. In this way, I am offering the insurance company multiple ways to get the policy distribution to my family.
Documents Kept Safe
This policy along with two others, provided through our credit unions and credit card company, include the following documents:
- Certificate of Insurance,
- Correspondence from Provider, and
- Beneficiary Designations
Each set of policy documents is paper clipped together. Then these three sets are paper clipped and housed behind my combination whole life and long-term care insurance documents. All these items are then placed in the third file opening of Box 2, holding our important insurance documentation.
This third bundle of documents completes the third file opening. Woo hoo! Making progress is exciting as we get organized while using time wisely. Designating a home for your paperwork and labeling your categories makes retrieving those documents quick and easy.
Using time now to organize and create a space for your important documents will save you money from replacing missing papers, energy from sorting through piles of paper, and time from searching for that special place you put it, so you wouldn’t forget it. 🙂
If you are struggling to schedule time organizing your documents, plan to work for 10 minutes when you pay/schedule your bills for the month. Try to schedule a time when you are naturally located where most of your important documents are in reach.
Just take it one document at a time. This project does not need completion today, this month, or this year. A little here and a little there will get you further than rearranging the piles. Start where you are, and happy organizing!
Question: What obstacle prevents you from organizing your important documents?