Yearly Life Insurance Review From United of Omaha Life Insurance Company or Companion Life Insurance Company
Your needs, and the needs of your family, change often. As your family grows and matures, you should take the time to periodically review your life insurance and make sure that your protection still matches your goals. We recommend sitting down once a year and reviewing your goals, financial situation and life insurance policy to make sure that everything is in line. This simple review process can help protect the financial future of your family and give you all some peace of mind.
Reviewing Your Life Insurance
Chances are you haven't paid much attention to your life insurance policy since you decided to take it out. That's why once a year you should look at your coverage and benefits to make sure they still line up with your situation.
A way to review your life insurance policy is to include it with a full financial review. Reviewing all your financial records once a year helps you stay on target for a healthy financial future. Items to review include:
- Insurance Policies
- Tax Returns
- College Savings Accounts
- Investments
- Outstanding Debts
You should look at all these areas and see where your family stands. With that information, you will have a better understanding of the financial challenges facing you right now - and in the future. That knowledge will help you ensure that your life insurance protection is still adequate to meet your needs.
Planning the Future
After looking at your current financial obligations and situation, it's time to think about the future. Do you have any plans to change jobs, increase income or move in the next year? Maybe a newborn is on the way to grow your family. Look at your present finances and reconcile them with your future plans to help ensure that your current life insurance policy still adequately helps to protect the future of your family. If new children are entering your family or you are expecting to increase your standard of living, it may be time to increase the amount of your life insurance protection.
Life Insurance Changes
If you find that your current lifestyle isn't adequately supported by your current life insurance policy, it may be time to call your United of Omaha agent. There may be additional coverage that are now applicable to your situation that were not before, like children's life insurance.
In addition, you may be able to add another policy or a different form of life insurance that may better serve your family's needs. Perhaps whole life insurance is a better situation for you than term. United of Omaha insurance agents have a variety of ways to help match you and your life insurance needs.
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