Life insurance is not a set it and forget it decision. Major changes like marriage, having children, buying a home, or changing jobs can all affect how much coverage you need and who should be listed as beneficiaries. Reviewing your policy after these events helps to ensure that it still fits your life.
Reviewing Coverage Amounts and Term Length
Over time, your financial responsibilities may grow or shrink. A policy that once felt sufficient may no longer cover outstanding debts, income replacement, or future expenses like education. For term policies, reviewing how many years remain can help you plan for renewal or replacement before coverage ends.
Beneficiary Updates Matter
Beneficiary designations do not update automatically. Divorce, remarriage, or the loss of a loved one can leave outdated information on file. Reviewing your policy ensures benefits go to the people you intend and helps avoid delays or disputes during a difficult time.
Changes in Health and Insurance Options
Your health and the insurance market can change over time. Improvements in health may qualify you for better rates, while new products or riders may offer more flexible options. Periodic reviews help you understand whether your current policy is still competitive.
How Often a Review Makes Sense
Many advisors recommend reviewing your life insurance policy every few years, even if nothing major has changed. A regular check in helps catch small issues before they become big problems and keeps your coverage aligned with your long-term goals.
At The Washwick Agency, We’re Here To Serve Bethlehem, NH
If you’re looking for life insurance, the team at The Washwick Agency, serving Bethlehem, NH, is here to help. Reach out to us today to set up an appointment with one of our agents to learn more.
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