A Life Insurance Policy Check-Up
It’s easy to update your car insurance—maybe your health insurance—ok not “easy”, but necessary on a yearly basis, so you’re sure to get the job done. Many people don’t even own a life insurance policy, much less remember to keep it updated when it’s easily forgotten tucked away in the fire-proof box in the corner of the closet. Consider these questions:
What if you purchased a 15-year Term Life Insurance Policy over 13 years ago?
Will you still need some death benefit in two more years? If so, why risk waiting until it expires? Get started on a new policy now to avoid the potential risk of a major health change.
Who did you list as your primary beneficiary on your policy all of those years ago?
Is it an ex-spouse? Was it your oldest child, and now you have two other children that you’d like the proceeds to be split evenly? Is it a parent who is no longer living, or no longer capable of handling the proceeds and distributing as necessary? A beneficiary update is typically completed with one simple form.
Is your insurance policy a benefit from your employer?
Will you be retiring soon, in which chances are, your policy will involuntarily end? Or do you foresee a job change in the near future and don’t want a gap in coverage between policies? Always consider layering a private life insurance policy with one offered as a benefit from an employer, so that you’re never in the position of being without coverage due to a job change.
Was your life insurance policy issued, and rated up in premium, at a time that you were heavier in weight?
Perhaps struggling with high cholesterol and managing with medication? Have you been able to lose some weight and minimize your prescriptions? These factors will affect your premium—and you could be overpaying for life insurance. After your first year’s coverage, many companies offer a chance to apply for a better rating, with no negative impact on your policy regardless of results…consider applying for a better premium since you’ve worked so hard to get in better health!
Give your policy a check-up today, and if you’re uninsured, we’d love to share some life quotes for you based on your individual need—call, email or complete the form below for a personalized quote!
Share the post "A Life Insurance Policy Check-Up"
