Sep
27
2006
How often should I review my life insurance policy?
Author: Byron UdellIf you haven’t reviewed your life insurance policy recently, you may be paying too much. Life insurance rates have come down dramatically in the last 10 years and even if you bought a policy within the past few years you may still be able to save money…even though your older!
A good rule of thumb is to review your policy every 2-3 years or when a “life event” occurs. A life event is an event such as a birth of a child. These evens should trigger you to re-examine your life insurance needs. For more information on life insurance for every stage, check out this post.
When re-examining your needs, you may want to use a life insurance needs calculator to see how changes in your life might impact your life insurance needs. Once you have a general sense of your needs, you should contact an agent or broker to get a more throrough analysis of your needs.