Life Insurance Policy Review Checklist

Did you change jobs.

Life insurance policy review checklist. Top tip check your contact details on all your policies. While this is a simple change you would be surprised by how many people don t notify the insurance company about this one. Gathering all your financial documents including your insurance policies life home auto health savings and checking account statements investment accounts and your 2007 tax returns. Life insurance policy review checklist as eventful changes take place in your life you might need to adjust your life insurance policy.

Health insurance policy review for health insurance make sure you know your deductible and maximum out of pocket costs. Life insurance is not a one size fits all product and every policy has to be carefully reviewed. Insurance policies and or associated riders and features may not be available in all states. When you get to question 7 are you currently carrying any life insurance and are you still paying premium on it the conversation should start up naturally.

If there s anything we can do to help feel free to call us at 800 442 9899 and speak with one of our advisors. Life changes such as a new child remarriage divorce retirement or a new home mortgage are major reasons to consider reevaluation. For example if the policy has a 3 000 deductible and a 6 000 max out of pocket cost you ll want to have 9 000 set aside in an emergency fund or health savings account to use for that purpose. Administrative changes address or other contact information changes.

If your email or home address has changed update this with your insurer. Get a pay increase or decrease. While you can do a life insurance policy review for any reason and at any time we find that doing it while you fill out the client needs assessment cna is the best. If it turns out that you and your heirs are properly covered your time investment is still well worth the roi in terms of greater peace of mind.

Jody carriage created date. 10 24 2014 3 02 35 pm. After your life insurance policy review checklist has been completed you should have a clear picture of your current coverage as well as any potential gaps or oversights. Do it today and you ll have the peace of mind of knowing you and your family are properly covered for 2020.

This easy to follow checklist will help you review and update your insurance policies. Your financial review checklist should include. Most insurance professionals recommend a life insurance policy review on an annual or bi annual basis to see if any of the following changes you made would impact your policy.