What Do I Do With A Life Insurance Payout?

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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    I guess if you're asking that question, the first thing you should do is put any payout in a savings account and let it sit until you've investigated  your options completely.  You will earn some minor interest on the amount, but the amount will be safe while you sort out your options. Don't rush and don't spend money on things until you've thought them through completely. I've seen people blow through ten years of income in a year and really have nothing to show for it by the start of year two.  If you're in that situation, take your time, think and go slow.
    Answered on April 29, 2013
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