Are You Protected? Why You Should Review Your Life Insurance Policy

December 12, 2022 | Jessica Richter

Life moves quickly, but it’s important to take time to review your life insurance policies at least once each year. Ensuring everything is up to date within your policy can allow you to feel confident that your loved ones will be protected and have less to worry about.

Keep your life insurance policy up to date with accurate names, addresses, and benefit amounts. This will help ease the process if coverage needs to be used in the event of the insured’s passing. In addition, there are a few other details you should review every year.

Keep Your Family Protected With an Annual Life Insurance Review

What Should I Review?

Here are a few different pieces of information you may want to consider when reviewing the terms of your policy.

Personal Information – Has your relationship status changed, or have you had a recent change in residence? Even small changes, such as updating a phone number or email address, can keep your protection sound. 

Beneficiary Information – You may want to remove a current beneficiary that has passed or that you no longer wish to have assigned. Updating your beneficiary information will help keep the death benefit payout process efficient. Learn more about life insurance beneficiaries here.

Policy Coverage – Review what your policy covers and offers each year to ensure that coverage is adequate in the event of your passing. Have you purchased a home or paid off a portion of your home mortgage? Have you changed your career or gotten a raise? Have your assets changed? Or has your family grown? When choosing a death benefit amount, all these things should be considered, so if this information has changed, an updated policy amount should be considered.

Read: How Much Life Insurance Do I Actually Need?

Changing your life insurance policy may result in an increased premium. Be sure to discuss your options when reviewing your policy with an experienced licensed life insurance agent. 

How Twin City Underwriters Can Help in This Process

At Twin City Underwriters, Inc. (TCU), we have been helping people make sound insurance decisions for over 50 years. We understand the significance of protecting what is important to you. Our goal is to help individuals and families determine if they are a suitable candidate for an annuity. To make this recommendation, our team will evaluate your financial objectives, current financial situation, and investment or savings horizon.

We have stable, long-term relationships with many leading insurance companies. We use those relationships and our experience to walk you through the process of selecting and applying for a suitable annuity. In addition, we provide ongoing customer service as questions arise and your needs change.

At Twin City Underwriters, we know that individualized attention to a client’s personal situation and needs are especially important, which is why we take the time to understand you and your financial goals.

Are you ready to have a meaningful discussion about your financial needs? Call or email TCU today to set up a free, no-obligation appointment with one of our dedicated agents

Call Twin City Underwriters to learn more: 651-488-0172 / 800-507-6778.