When Should I Review My Life Insurance Needs?

It is beneficial for you to review your need for life insurance every few years or when a major life change occurs.

For example, you may want to review your life insurance needs when getting married, expecting a child, buying a new home, starting a new job or getting a promotion, or when a family member passes away.

In addition, it is always important that you have your life insurance policies and other valuable papers in a safe and fire-proof location that can be reached by a family member or trustee in the event of your death.

If your family (beneficiaries) can't find your life insurance policy, or if they don't know that the life insurance policies even exist, it is nearly the same as if your life insurance policy didn’t exist at all.

When reviewing your need for life insurance make sure you use a life insurance calculator to help you accurately determine the right amount of life insurance for your situation.