The only constant in life is change. Here are some common reasons why you might want to increase your life insurance or change your life insurance policy.
The only constant in life is change. Your life today probably looks a lot different than it did a decade ago. At that time, you may have been in college, moving out of your parents' house to live on your own. Now, you're a parent yourself, welcoming a new life into the world.
Just as we change over time, so do our needs for life insurance.
For that reason, it's important to periodically review your life insurance policy to ensure it still meets your family's needs.
Is it enough coverage to help cover immediate costs (funeral, medical expenses, everyday bills) and future expenses (college for a child or assisted living for an aging parent)?
10 Reasons Why You Might Increase Your Life Insurance Coverage
or Change Life Insurance Policies
1. You've gotten married.You share appetizers, last names and sink space. But you'll each need your own life insurance policy, in order to ensure the other person would be taken care of financially should one of you pass away.