When to Review Your Life Insurance Coverage

It makes good financial sense to periodically examine your life insurance coverage to make sure the coverage is still sufficient. After all, life insurance is often a family’s most important financial and estate planning tool.

With today’s frequent changes in financial circumstances and goals, it’s a good idea to re-examine your life insurance coverage on the occurrence of any of the following:

  • Marriage or divorce;
  • Birth or adoption, or acquiring a financial dependent such as a parent;
  • Children leaving for college;
  • Children “leaving the nest”;
  • Purchase or sale of a home;
  • Serious illness;
  • Substantial growth or depletion of assets;
  • Retirement; and
  • Start-up of a business.

Tip: In addition to the amount of coverage, you may need to make a change relating to beneficiaries, policy ownership, or type of coverage.

Consult with us if you think it might be time to adjust your life insurance coverage.

RC Holsinger Associates, P.C. – March 2011 Newsletter

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