GET YOUR HOUSE IN ORDER
Reviewing your life insurance policy should be part of your overall financial plan.
If it has been a while since you reviewed your life insurance policy, there's no time like the present.
Here are 5 reasons to help understand when and why to review your policy:
1. Your family status has changed.
If you now have kids or more kids then you need to make some adjustments to your life insurance policy such as increasing your cover.
2. Your health has changed.
You may no longer be a smoker, you may have lost weight, or other health conditions have been resolved. This will likely benefit in cheaper rate of cover.
3. Your marital status has changed.
If you got married, you build a life together based on two incomes, what happens when one income disappears. If you have divorced, then you will need to change the beneficiaries of your policy.
4. You got a new job.
A new job could mean losing an old job's benefits such as 'death in service'. Your new job could be more or less dangerous. These must be taken into consideration when assessing whether your life cover is still appropriate.
5. Your housing situation has changed.
Bought a new house? But now you need to consider the fact that if you were to die unexpectedly, how would your family continue to pay the new or increased mortgage. If you downsized or paid off your home, you may not need as much life insurance cover.
If you haven't reviewed your insurance in over a year and want peace of mind knowing what you have is best suited for you please get in touch.
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#Spero #financial #lifeinsurance #criticalillness #privatehealthcare #privatemedicalinsurance #business #money #bespoke #belfast #brokers #financialservicesprofessional - 4 hours ago