When to Review Life Insurance | Update Coverage

Life insurance is one of the most important financial tools you’ll ever own. But your life doesn’t stay the same — and neither should your coverage. Major life events can change your financial responsibilities and the amount of protection your loved ones need. Regularly reviewing your policy ensures that if the unexpected happens, your plan is still strong enough to protect them.

Why Policy Reviews Are So Important

Too often, people buy a policy, file it away, and forget about it. The problem? Over the years, your coverage may become outdated. You might:

• Be underinsured, leaving your family short of funds.

• Have beneficiaries listed incorrectly due to life changes.

• Be paying for features you no longer need.

A quick review every 1–3 years — or after major life changes — can prevent these issues and keep your plan aligned with your goals.

Life Events That Should Trigger a Review

1. Marriage or Divorce

   • Update your beneficiaries to reflect your current wishes.

   • Increase coverage to protect a new spouse or stepchildren.

2. Birth or Adoption of a Child

   • Add enough coverage to secure your child’s future education, daily expenses, and long-term needs.

3. Buying or Paying Off a Home

   • Adjust coverage to match your mortgage balance and ensure your family can keep the home.

4. Starting, Buying, or Selling a Business

   • Protect your business partners and ensure your family receives fair value for your ownership interest.

5. Significant Income Changes

   • A higher income may require more protection to maintain your family’s lifestyle.

   • If your income decreases, adjusting coverage can help keep premiums affordable.

6. Major Health Changes

   • Improved health may qualify you for lower rates.

   • Declining health may make it important to lock in coverage now before rates increase further.

Signs You Might Need an Update Even Without a Major Event

• You haven’t reviewed your policy in more than 3 years.

• You can’t remember your coverage amount or beneficiaries.

• Your policy doesn’t reflect your current debt, income, or savings.

• You’ve taken on new financial responsibilities (like caring for elderly parents).

How to Review Your Policy

• Check your coverage amount — is it enough to cover your debts, replace your income, and meet future goals?

• Review beneficiaries — make sure they’re current and correct.

• Assess your policy type — does term still fit, or do you need permanent coverage?

• Ask about riders — you may be able to add living benefits or accidental death coverage.

The Bottom Line

Your life insurance should evolve with your life. The right coverage today may not be enough tomorrow, and a quick review can make all the difference in protecting your family’s financial future.

📞 Schedule your free policy review with Imperial Insurance Team today — call (984) 296-4977 or email info@imperialinsuranceteam.com.