3 minute readLife
Every few years, and after any change in income, debt, family size, marriage, divorce, business ownership, or health improvement. Also confirm beneficiaries — outdated beneficiary designations are one of the most common and most painful mistakes we see.
What you need to know
Check beneficiaries first
Designations override wills. An ex-spouse listed on a policy still receives the money.
Re-shop if your health improved
Quitting smoking or reversing a health condition can qualify you for a better rate class.
Match coverage to remaining need
Coverage bought fifteen years ago may now be too small, too large, or about to expire.
Common mistakes
- Relying only on employer coverage, which is small and not portable.
- Waiting to buy, when age and health only make pricing worse.
- Insuring the earner and not the parent doing unpaid household work.
- Leaving outdated beneficiaries on the policy.
- Buying a term length that expires before the need does.
When to talk to an agent
Talk to an agent when someone becomes financially dependent on you, when you take on a mortgage, when your health or income changes, or when you want a real number instead of a guess.
Frequently asked
This article is general information, not a policy or a promise of coverage. What your policy pays depends on its specific terms, limits and exclusions. Ask us to review your actual policy before making a decision.