End-of-Year Life Checkup: Is Your Coverage Still Right?

As the end of the year approaches, many of us find ourselves in a period of reflection. The holiday season combined with the open enrollment period makes it the perfect time to rethink your life insurance needs. Life's unexpected twists—whether expected or not—can render old policies outdated, and it's easy for shifting priorities to sneak up on you unnoticed.

Assessing your life insurance annually is crucial. Here are factors to consider during your end-of-year checkup:

• A new job, promotion, or retirement: These life changes can significantly alter your financial landscape.
• Getting married or divorced: Life events that affect your dependents should prompt a review of your coverage.
• Welcoming a child or grandchild: New family members bring new financial responsibilities.
• Buying a home or taking on new financial obligations: Major purchases can affect your need for insurance.
• Changes in health, income, or long-term financial goals: Personal circumstances can evolve, impacting your coverage needs.
• Adjusting beneficiary designations or estate plans: Ensure your policies reflect current wishes and family dynamics.

By ensuring your coverage matches your current circumstances, you gain peace of mind. Take a proactive step before the year ends; schedule a quick coverage review to ensure everything aligns with your needs. It's an easy and supportive process that can make a significant difference in your financial well-being.