Despite its significance, many individuals who have life insurance fail to review their policy after its purchase. Many individuals simply pay the premium amount and do not give their life insurance policy the attention it requires. Yes, purchasing life insurance is the first step in the right direction. However, it is equally important to manage and update your policy as life continues to change. Gathered are some helpful tips to guide you in managing your life insurance policy:
- Once you purchase your life insurance policy, it is important that you schedule annual visits with your life insurance agent so that you can make any necessary changes. However, if you experience a major life change, it is important that you get in touch with your life insurance agent to make immediate changes on your policy. These life changes include getting married, having a child, incurring debt, etc.
- In managing your life insurance policy, you will want to go over how much money you are putting towards the policy. Talk with your life insurance agent and see if you would benefit from dispersing your funds with a variable life insurance policy. This investment opportunity would allow you to continue investing throughout the years.
- If you are receiving life insurance from your employer, you will want to speak with a reputable life insurance agent to determine if this coverage will suffice in protecting each member of your family. Typically, employer sponsored life insurance policies only provide minimal coverage, which means depending on your particular needs, you may need to purchase a supplemental form of life insurance for ultimate protection.
Contact Bernardini & Donovan Insurance Services in Redlands for all of your California life insurance needs. Allow us to assist in managing your life insurance policy to ensure that your loved ones are always receiving the protection they deserve.