September is Life Insurance Awareness Month
September is a time of transition, it’s back to school for the kids, the weather is changing, the leaves are starting to turn and it’s a good time to “get back to business.”
In the past year and a half, the COVID-19 pandemic has raised the awareness of the fragility of life and how precarious financial stability can be. If someone depends on you financially or would be negatively impacted financially if you were no longer here, you probably need life insurance.
By having life insurance, you are saying to your family: I love you, I’ve got you and I’m planning for your future no matter what happens.
September is Life Insurance Awareness Month, so let’s celebrate by taking a look at common questions to ask yourself about your life insurance coverage.
Consider asking yourself the following questions:
- Do I have life insurance?
- Is the insurance I have in place enough to provide my loved ones with the financial security they will need?
- When did I obtain my policy?
- If my coverage is a term policy, when will the overage lapse? What is the plan when the coverage ends?
- Is my current coverage affordable?
- Have I experienced any major life changes since I bought my policy? (health, marriage, house purchase, had children, income increased)
- Are my beneficiaries current?
- Do I understand the details of my policy and the coverage it provides?
- Do my loved ones know about the policy and how to collect the benefit when I pass?
- Do I know where my physical policy is, and the name of company who insures me?
Do the answers to the above questions leave you with more questions? It’s okay if so! Over your lifetime, your life insurance needs will fluctuate and we’re here to guide the way and analyze what changes are needed so you and your loved ones are protected.
You can schedule an informal insurance review appointment with our insurance specialist, Jeri Boston. She will review your coverage, explain it to you, answer your questions and collaborate with your Financial Planner to determine if the coverage you have is enough or too much.
Written By Jeri Boston