Adjust Your Life Insurance Periodically

Life Insurance—When To Adjust Your Limits

It's easy to forget to update or adjust your life insurance policy. Use this quick checklist to see if your life insurance needs a little attention.

  • It has been about 3 to 5 years since you have reviewed your policy
  • You have financial dependents and debts but your total life insurance coverage in force is less than ten times your current household income
  • You have married, divorced or been widowed
  • You have just had a child or adopted one
  • You are nearing retirement age
  • Your children are leaving for college
  • Your children have married
  • You, your partner or a dependent has suffered a serious illness or disability
  • You or your partner has had a substantial change in income
  • You have moved or relocated into a substantially larger or more expensive home
  • You have started a new business
  • You are caring for an aging parent
  • You or your partner has changed jobs

The above-listed tips are for informational use only. Refer to your insurance policy contract for specific information regarding your coverages and for actual terms, conditions and exclusions. The above statements are general in nature and may or may not reflect the actual terms of your insurance policy.