When was the last time you reviewed your insurance policy? If you have not done so recently then it would be beneficial to you to add that to the top of your “to do” list. You may have experienced some major life events since the policy was issued that you need to account for and your policy should be adjusted accordingly. Even if you haven’t had any major life changes your financial goals may have shifted. Failing to examine your old policy over time could mean that your family will not have enough money to pay the mortgage or the bills in the event of your death.
There are unexpected moments in every person’s life that are challenging, and have the ability to shake things up. While not all unexpected life events are negative, there are some major ones that will be and could affect your financial future, and that may have you rethinking your life insurance choices. With that being said, do you know the difference between old insurance and new insurance?
You may remember having to answer a lot of health questions in order to apply for life insurance in the past. However, having some health conditions to report does not always mean you will get declined for life insurance. The fact that you smoke, could stand to lose a few pounds or even take prescription medication because of a chronic medical condition should not keep you from shopping for a good life insurance policy to help protect your family and preserve your peace of mind. These days, some policies require the answers to very few health questions, and some guaranteed acceptance policies do not require you to answer any health questions at all.