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Life Insurance is Not Once and Done

Change is the one constant in our lives. Families grow, careers progress, needs change and plans and goals for the future shift. Because your life doesn't follow a straight line you need to make sure your financial plan – including your life insurance – keeps up with the changes in your life.

Periodically reviewing your life insurance can help you stay on track for reaching your goals and protecting your family from life’s unexpected turns. And one of the best ways to do this is to get together with your financial professional for a Life Insurance Review at least once a year.

What happens during a Life Insurance Review?

  • You and your financial professional will review your current situation, your goals and your existing protection
  • Your financial professional will either confirm your current life insurance is in line with your needs and goals or map out an action plan to help you bring your coverage up to date
  • Your financial professional will also help you implement any changes you decide to make

A Life Insurance Review offers benefits

  • Peace of mind that comes from knowing your life insurance meets your needs 
  • Reassurance that your coverage is aligned with your goals for the future

When to consider a Life Insurance Review

A good rule of thumb is to have a Life Insurance Review at least once a year. However, there are certain circumstances that make a timely Life Insurance Review even more important, including:

  • Marriage or divorce
  • The birth or adoption of a child
  • A change in employment, career or income
  • The sale or purchase of a home
  • The death of a spouse
  • Becoming responsible for the care of a parent or relative

You should also consider a Life Insurance Review when:

  • You are about to retire
  • Your child is nearing college age
  • Your child is getting married
  • You are starting or selling a business

What do I need to do to prepare for a Life Insurance Review?

The process is quite simple. Your financial professional will review your policy(ies) and ask you a few questions about your current circumstances and goals for the future. If you have additional policies through other advisors, companies or your employer, your financial professional may ask you to have these handy so he or she can collect information needed to make a complete assessment of your current coverage.

That’s all there is to it. The whole process should not take more than an hour or two of your time. Best of all, it is a complimentary service performed at no cost or obligation to you.

Ready to Get Started?

A financial advisor can help you build a financial plan that positions life insurance "first and center" and helps keep you on track to unlock all of life's possibilities.

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