September is Life Insurance Awareness Month
Buying any amount of life insurance is based on several factors – your income, how many dependents you have, and your debts and other financial liabilities. Your own personal preferences and risk tolerance were also considered when you decided what type of policy to buy. All of these things can –and likely will –change over time. When is the last time you reviewed your current insurance to make sure it still makes sense for you and your family? Is it keeping up with your evolving financial situation so that you and your loved ones can live life confidently?
When to review your life insurance program
Like other aspects of your financial life, your life insurance should be reviewed periodically. If that hasn’t happened, here are some situations that should prompt you to do so –
- You have married or divorced
- You have a new child
- You have changed jobs or careers
- Your health has changed
- You have purchased or sold a home
- You have started or sold a business
- Your children or others are no long dependent on your income for their needs
- You are about to retire
- Your net worth has changed
- Your legacy goals have changed
Families grow, careers progress, needs change, your plans and goals shift. You need to make sure your life insurance keeps up.
Your Fortis Wealth team has the expertise and resources to help you – Call to schedule a life insurance review today.
September is Life Insurance Awareness Month, a nationwide campaign created in 2004 by Life Happens. Life Happens is an organization dedicated to educating consumers on financial products and topics.