April 2018's Property Gazette

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!

  • Great experience chatting with Sarah about our insurances. She’s very knowledgeable and explains everything clearly, always makes sure that we have all the information to make an informed decision about how and where is the best place to put our money. Also helps that she’s absolutely lovely and very easy to talk to
    Sarah Martin - 22 May 2024
  • Scott has been absolutely incredible. I was initially hesitant to use a broker but I am beyond glad I did. Prompt, insightful, and reliable - will be using his services into the future.
    Kaleb McCall - 17 May 2024
  • We have never used a Mortgage Broker in the past and Scott Miller was amazing and made our refinancing journey very simple and straightforward. He is very knowledgeable and professional; would highly recommend Advanced Mortgage Solutions to anyone.
    Many thanks Scott.
    Alison and Colin Philip - 10 May 2024
  • I chose to work with Greg to help me buy my first home and I'm so glad I did! I honestly can't recommend him enough, he made the whole process so easy and stress free, helped me every step of the way to understand what I needed to do next and a lot of the time was doing all the work for me. Such an absolute pleasure to deal with, I sincerely appreciate everything so much and will be referring everyone I know your way!
    Cara Eve - 02 May 2024
  • For anyone considering or even contemplating a broker + advisor combination, look no further! I consider myself loyal to those who are strong to their word, provide genuine help and are able to put it in plain English so I can make an informed decision based on my circumstances.
    Leith Skinner - 30 April 2024