You have probably already completed the difficult part – introducing a life insurance policy. However, it is imperative that you review your policy (or policies) at least once a year. The review will protect you from paying more than you need, allow you to increase your coverage or convert a life insurance policy into a full life insurance policy.
Why review your life insurance?
If you have purchased a life insurance policy, the market changes over time. If you have not had insurance for many years, there may be a better option to lower your premiums or increase the death benefit amount. Your local insurance agent can check the market and discover all the new options that can be better for your budget and provide increased protection for your loved ones.
You may have changed in life, such as the death of a loved one or the birth of a child or grandchild. Some people have a child with special needs and want to ensure that they are cared for after the death of the parent. You may have inherited money and are considering buying more insurance. You may also need to review your insurance more often than annually for specific life changes, including:
- You are getting married
- You are divorcing
- You are buying a house
- You have a new child
- You are adopting a child
- You have received a large increase
- You buy or sell a company
- You have received an inheritance
- You have a loved one who needs long-term care  You died in the family
- You retire
- You have become disabled
What does the review mean?
When reviewing your life insurance policies, keep the following in mind:
- Your current debt
- Your mortgage
- Your business income
- The cost of education for your children
- The estimated cost of health care
- Changes such as divorce, marriage, childbirth, or adoption
Conversion of a Conditional Policy into a Comprehensive Policy  Most life insurance policies can be converted for life. As you grow older, you may have a higher income, and an entire life policy is now affordable. You will have to convert to full life insurance within the time limits of your insurance, and you need to make sure that you do not miss the deadline. The benefits of this conversion include:
The policy transformation is based on your initial health rating. If you have developed a health issue, you will not be penalized.
- You have the opportunity to decide how much of your insurance you want to convert to full life insurance. value over time.
- Your entire life policy provides life insurance for the rest of your life, no matter how old you are when you die.
Professional assistance in insurance matters
Our qualified, experienced agents are available to review your insurance, either on an annual basis or if you experience a significant change in your living conditions. We will work closely with you to ensure that your insurance policies are in order so that your plan matches your wishes for your beneficiaries. We invite you to benefit from our experience and knowledge in this critical issue.