End-of-Year Life Checkup: Is Your Coverage Still Right?

As the year draws to a close, it's natural to reflect on what has changed and what's ahead. The holiday season, along with the open enrollment period, provides an excellent opportunity to reassess your life insurance needs. Life has its way of surprising us, and life insurance policies that once fit perfectly might no longer align with your current circumstances.

Think about how your priorities and responsibilities may have evolved over the past year. Without even realizing it, your needs might have changed significantly. Here’s why it's crucial to reevaluate your life insurance annually:

1. Adjusting Beneficiary Designations or Estate Plans

Ensure your beneficiaries are up-to-date and reflect your current wishes and family dynamics.

2. Welcoming a Child or Grandchild

New additions to your family can require additional coverage to secure their future.

3. Changes in Health, Income, or Long-term Financial Goals

Major health changes or shifts in financial goals can affect the adequacy of your current policy.

4. A New Job, Promotion, or Retirement

Career changes can impact your insurance needs, whether through new benefits or a change in income.

5. Buying a Home or Taking on New Financial Obligations

Major purchases or debt can increase the amount of coverage needed to protect your assets.

6. Getting Married or Divorced

Marital status changes often necessitate revisiting your policy to ensure it aligns with your partner's needs.

There's peace of mind in knowing your coverage fits your life exactly as it is today. Before the year ends, consider the proactive step of scheduling a coverage review. It's an easy and supportive process, designed to keep your future secure. Reach out to us to set up a quick review and ensure your needs are covered.