If you've purchased life insurance, you deserve to be commended for taking this step to protect your loved ones. There may be a temptation to file away your policy and forget it, but there are a few key things you should do right away after buying life insurance to ensure that in the event of a tragedy, your loved ones will easily be able to receive the money you want them to have.

When deciding between the general categories of term or permanent life insurance, your decision needs to be guided by what you want it to accomplish for those you’re protecting.