We suggest reviewing your life insurance policy once per yearto make sure you have enough coverage. Most importantly, you should review it anytime your life and circumstances change.
What should I look for during my policy review?
When reviewing your policy you should look for anything that may need updating. Examples include your name, address, phone number, billing information, and beneficiary.
When should I update my beneficiaries?
Make sure you keep your beneficiary designations up to date. There are certain circumstances that will warrant a beneficiary change. These include:
Marriage or divorce
The birth or adoption of a child
Your designated beneficiary passes away
You are now caring for your elderly parents
When should I apply for a new policy for more coverage?
Just as life is ever changing, so are your life insurance needs. You may have purchased a small insurance policy when you were fresh out of college to cover your student loans. A few years have passed and now your lifestyle has changed. Here are some common circumstances in which you may want to increase your life insurance coverage:
Starting (or adding to) your family
Purchasing a new home
Job promotion with higher income
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