When To Review Your Life Insurance Policy

Life insurance is the most important thing you can do to secure the future for your loved ones. Many take out a policy, then put it away until it’s needed. Ashley Insurance wants our Easton, MD residence to understand why regular review of your life insurance policy is as important as having one in the first place.

Why Review Your Insurance Policy?

Life is constantly changing. Our families grow, we move, we run into obstacles. These changes can greatly affect our insurance needs. It’s recommended that policy-holders review their insurance at least once per year. However, there are other significant life events that call for a coverage adjustment. We’ve listed some of them below.

Review Your Insurance During Important Life Events

Family Size Changes 

This includes when you marry or divorce. The birth or adoption of a child or grandchild is also cause for a life insurance review. Consider adjusting if you are financially supporting another family member, such as a parent or sibling. 

Health Changes

A significant change to your health or that of your partner is cause to review your life insurance. This is particularly important for critical conditions like cancer. It may also be important to review when a loved one, such as a child, needs long-term care.

Other Changes

Adjustments should be made whenever you come into an inheritance. Additionally, make a review whenever you purchase a new home or refinance your home.

These are just a few of the significant life changes that require a review of your life insurance policy. Whenever you need to make important life insurance decisions, Ashley Insurance is here to help our Easton, MD neighbors every step of the way. Reach out to us by phone or online today.