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April 2018's Property Gazette
Published by Scott Miller
6 Reasons to Review Your 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.
You may be missing out on substantial benefits so review your cover when your income changes.
2. Your Health Changed
This is an important one! Let’s say you’ve been working out and eating healthy and as a result your blood pressure went down – congratulations, this may also affect your life insurance rates!
Companies generally will reward you if you are in great health by offering you discounted premiums. You may want to call your insurance company and ask what kind of rates you’d get for a preferred health discount.
The discounts in many cases can be very substantial!
So, review your life insurance when your health changes – it’s a good idea!
3. You Lost Weight
This is related to health, but different enough to make a distinction. Let’s say you’ve been playin’ Wii Fit for the last five months and you joined the Biggest Loser fan club – as a result you’ve lost some weight!
Guess what, you may now qualify for preferred discounts!
You should get a new life insurance quote or give your company or a call to find out what kind of discounts are offered for their preferred rates.
4. Your Family Status Changed
If you are expecting a child, you will soon begin to feel enormous pressure to provide for your little tyke. If you already have kids you know what I’m talking about.
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.
Or, perhaps you just bought your first home and now you gave a liability that would need to be paid upon your passing.
Review your life insurance when your housing status changes – you may need more or less life insurance, but at the very least ask good questions about your needs.
6. Your Marital Status Changed
Congratulations! You just got married – now review your life insurance! You now have a spouse, someone who may be dependent on you – it’s important to review how much life insurance you need.
On the flip side, unfortunately people get divorced very often these days and so your life insurance needs may change as a result also. Maybe you don’t need that much coverage anymore.
Contact us today for a chat about how we can help you secure the property of your dreams – and remember to book your spot at our April first home buyers seminar too!