Life Insurance Basics
What is a life insurance policy review?
A life insurance policy review is an annual or periodic assessment of your life insurance coverage to ensure it still meets your needs. A policy review should consider: changes in income, family size, debts, and financial goals. You should review your coverage after major life events.
Key Points
- Review coverage annually or after major life events
- Consider: changes in income, family size, debts, financial goals
- Major life events: marriage, divorce, birth of child, home purchase, retirement
- An independent agent can conduct a free policy review
- Policy review may reveal coverage gaps or opportunities to save money