Life Events That Can Affect Your Life Insurance
Updated: Aug 19, 2021
Life is full of changes. Have you experienced a big shift or milestone lately?
If so, then it may be time to adjust your life insurance policy accordingly.
From saying "I do" to prepping for a relaxing retirement, here are the life events that might require a second look at your life insurance coverage.
Starting a new job — or even your own business — can mean a significant change to your income and lifestyle. So make sure your life insurance policy meets your needs, as well as your family's needs, when you consider your new position.
Getting married is an important event in many people's lives. Do you and your spouse have life insurance policies that protect you both financially?
You can update your life insurance policy to reflect that your child is financially dependent on you. And if you're a stay-at-home parent, it's essential to consider your coverage options because of the financial support you offer your family.
Getting the keys to your house is a huge step in life. For the next several years, you'll have a mortgage to consider. Does your life insurance policy offer enough coverage for this new financial responsibility?
A divorce can mean you need a new life insurance policy altogether. Or, you may need to sit down and review your existing policy's beneficiaries.
Maybe you have whole life insurance to help supplement your retirement, or perhaps your term life insurance policy will soon expire. When you prepare to leave the working world behind, revisit your life insurance and consider your coverage needs moving forward.
If you're planning for or currently experiencing a life-changing event, reach out to discuss your coverage needs.
Barb Scott “The Health Insurance Expert”