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

As the year comes to a close, it's natural to reflect on the changes and events that have shaped our lives. The holiday season and the open enrollment period provide a perfect backdrop for reviewing your life insurance needs. Life comes with its surprises — both expected and unexpected — and it's easy for old policies to become outdated.

Your priorities and responsibilities might have shifted without you even realizing it. That's why it's crucial to reassess your life insurance annually. Here are some key reasons to consider:

Adjusting Beneficiary Designations or Estate Plans

Keeping your beneficiaries up to date ensures that your coverage reflects your current wishes and circumstances.

Buying a Home or Taking on New Financial Obligations

Acquiring new assets or debts can affect how much coverage you need to protect your loved ones financially.

Getting Married or Divorced

Major life events like marriage or divorce can significantly impact your insurance needs.

Changes in Health, Income, or Long-Term Financial Goals

Your health and financial situation can change, necessitating adjustments to your coverage to maintain peace of mind.

A New Job, Promotion, or Retirement

Your career changes may influence your life goals and the level of insurance required to support them.

Welcoming a Child or Grandchild

New family members are a common reason to reassess your life insurance policy to ensure they’re adequately protected.

Reassessing your life insurance coverage helps ensure that your policy aligns with your current life circumstances, providing peace of mind. Take this proactive step before the year ends, and consider scheduling a quick coverage review. It’s an easy and supportive process that can make a significant difference.