10/03/2020
Figuring that you never have to review your insurance needs is one of the most common misconceptions about life insurance! But, if you don’t review your plan annually – or, for that matter, don’t have a financial plan – JGM CONSULTING LLC offers some guidelines to know when and why you should review your life insurance:
1. Your Income Changed:
Whether you got a new job or you lost one, it’s a perfect opportunity to do a review of your life insurance.
2. Your Health Changed:
Companies generally will reward you if you are in great health by offering you discounted premiums.
3. You Lost Weight:
Guess what, you may now qualify for preferred discounts!
4. Your Family Status Changed:
It’s extremely important to sit down and ask tough questions like, “What happens if I die and my wife is left with the kids?” You may also ask, “Who will provide for my kids if I pass away?”
5. Your Housing Status Changed:
Maybe you just paid off your mortgage and you don’t feel like you need that much life insurance anymore.
6. Your Marital Status Changed:
Life insurance needs may change if you have recently married or gone through a divorce. Either status can impact the kind of insurance that may or may not be needed.
7. Your Beneficiaries May Have Changed:
Whether housing or marital status has changed it is highly advised that you stay prepared for any outcome and ensure that the proper beneficiaries have been accounted for.
While life insurance is not a fun topic to discuss, taking the time to review your options and policies is a very integral piece to your financial plan – it's what makes all the difference in a secure financial future and peace of mind.
Visit www.jgmconsultingllc.com or CALL JERRY 714.644.9066 for a no cost no obligation assessment.