When should you review your life insurance coverage?

Are you one of the 54% of Americans that has life insurance coverage? If you answered ‘yes,’ congratulations and job well done! You have taken a proactive step in securing the future of your loved ones in the event of an untimely death.

There are many misconceptions about life insurance, with cost being one of the biggest. However, another common misconception about life insurance that many people have is that it is a “get it and forget it” purchase.

Life insurance is merely one piece of your financial portfolio, and just like your retirement plan and estate plan, the amount and type of life insurance coverage that you have should be reviewed periodically. Here are a few examples of when you may need to adjust your life insurance policy.

 

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