Life happens fast, and so many things change. When it comes to protecting your family in CA, no matter what circumstances you end up facing, life insurance is your best bet. However, life insurance policies are not static. Your needs change along with your lifestyle, so your insurance policy should follow suit. When major life events happen, it’s always a good idea to review your policy and make sure that it provides the coverage you need now and not in the past. Here are four instances when you should review your life insurance.
You’ve Had A Child
Whether you just had your first child or your family is growing, it’s a good idea to review your life insurance policy. As all CA parents know, it is extremely expensive to raise a child. In fact, it costs almost a quarter of a million dollars, and that doesn’t include paying for college. Life insurance can help you cover those expenses so that your children do not go through any undue financial hardship. Make sure to review your life insurance policy anytime your family grows.
You’ve Purchased A Home
No matter if it is your first home or the dream home you’ve always wanted in CA, your financial circumstances change significantly when you buy property. Paying for a home is challenging, but with a life insurance policy, your family will not be burdened with the costs. Review your life insurance policy to make sure the payments will cover your mortgage, property taxes, and the upkeep of the house.
Your Income Has Changed
Whether your income has increased or decreased, it’s a good idea to review your life insurance policy. If your income has been reduced, you may need to make adjustments to ensure that you can still afford your policy or expand your coverage to make up for other changes like saving less. If your income has increased, you need to review your insurance policy to make sure that it is still enough to replace your income if you pass.
Your Goals Have Changed
As our life changes, so do our goals. Our children may be grown up now and don’t need as much financial support as they once did. We may have upgraded our lives and now have more expenses. We may have gotten really involved in a charity we’d like to support after we pass. Regardless of what your goals are, if they have changed since the last time you reviewed your insurance policy, it’s time to take another look.
At Asurea, we understand that our lives and our priorities change as we get older. We can help you understand how those changes affect your life insurance policy needs and assist you in getting the coverage you need now to protect your family in the future. We have a lot of information you can browse right on our website at https://asurea.com. We’re also always available to answer your questions by phone or email. The next time you make a big life change, don’t hesitate to reach out to us.