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

The end of the year is an ideal time for reflection and assessment. As we gather with family and look back on the year, it's also important to consider how life's changes might affect our life insurance needs. The holiday season, coupled with the open enrollment period, offers the perfect backdrop for this reevaluation.

Life is full of surprises, and both predictable and unforeseen changes can make existing policies less suitable over time. Whether it's a new job, a promotion, or entering retirement, every significant life event has the potential to impact your financial responsibilities and goals.

Why an Annual Review of Your Coverage is Essential

Your life circumstances can shift dramatically, often without you realizing it. Here are some key moments that should prompt you to reassess your coverage:

• Getting Married or Divorced: Changes in your marital status can significantly impact your financial obligations and beneficiaries.
• Welcoming a Child or Grandchild: Expanding your family means more dependents to consider in your coverage.
• Buying a Home or New Financial Obligations: New financial responsibilities require revisiting your coverage’s adequacy.
• Changes in Health, Income, or Long-term Goals: These aspects can require a reevaluation of what your policy covers.
• Adjusting Beneficiaries or Estate Plans: Regularly updating your beneficiaries ensures that your policy reflects your current wishes.

The peace of mind that comes with knowing your coverage aligns with your life is invaluable. Before the year wraps up, take a proactive step to ensure your policy is still appropriate. Schedule a quick coverage review, positioning it as an easy and supportive process. Remember, reviewing your life insurance is not just about financial security; it's about taking care of those you love.