Although few people would argue about the importance of having life insurance, most do not have a clue when it comes to the appropriate amount of coverage. A recent study revealed that only 13 percent of Americans carry the recommended amount of life insurance coverage based on their income.¹


It's not unusual for people to buy a life insurance policy and then all but forget about it. But this could be a big mistake. Changes in your personal and financial situation may necessitate a change in your coverage. By reviewing your life insurance policies on a regular basis, you can help ensure that your coverage is in line with your financial needs.

Questions That May Help

Have there been any recent changes in your family? Have you gotten married, divorced, or added a new member to your family?– Would you like to provide for grandchildren following your death?– Has there been a change in your employment and group insurance coverage? Has your annual income increased or decreased? – Are you planning to help fund a child's college education?– Do you have any term life insurance policies that are about to expire? Do these policies still meet your needs?– Have you had any improvements in health that might affect the cost of your policies?

                                                         (For example, have you quit smoking?)

Have you recently reviewed the performance of your policies? Have you determined the cash value?If it has been more than a year since you asked yourself these questions, you may benefit from a quick review of your life insurance policy. Call today so that we can discuss the role of insurance in your overall financial strategy.1) InvestmentNews, December 13, 2004