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Patrick West
UAB School of Business

In this personal finance video series focusing on changing needs of insurance, Patrick West from the UAB School of Business covers important topics such as changing your beneficiary as life changes occur, what is credit life insurance, how insurance companies set their rates, should you use an estate planning attorney when setting up your insurance policies and much more.
Insurance-Changing your Beneficiary
It is important to be proactive to changes in your life. Whoever owns the insurance policy controls the insurance policy. It is important to change the beneficiary on your policy in case of divorce or other life issues.

Credit Life Insurance
When you purchase a car, you may be offered a credit life insurance policy. What is credit life and what benefits does it offer? Credit life insurance is a decreasing term policy that is designed to pay off the loan. This personal finance segment covers the type of information and questions that the underwriter will ask to set the rates on credit life policies.

Insurance Companies-Setting your Rates
Insurance carriers set the rates on your insurance based on the facts as they know them. In addition to covering insurance rates, we also cover whether you should have one large policy or multiple small policies to cover your risks.

Fiduciaries, Wills and Estate Planning
What is a fiduciary? Should you consult an estate planning attorney before setting up your insurance program? These and other questions are covered in this personal financial planning segment.



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