When life changes, your life insurance should change with it. Making occasional changes to your policy ensures you always have the best coverage and that you aren’t paying more than necessary for life insurance in CT.
A Change in Finances
If you receive a raise, take a pay cut, buy a home or receive an inheritance, it’s best that you revisit your life insurance policy to see if any changes need to be made. Some circumstances might require you to increase your death benefit while others might warrant a decrease in your coverage.
You Start or Grow Your Family
Having a family means having dependents who rely on you and your income. Just like you’ll likely need more coverage when you have a child, you might want to consider reducing your coverage when your kids move out or go to college.
A Change in Occupation
When you get a new job that brings in more money, your lifestyle might change, which means your life insurance in CT should change as well. Adjusting your policy is an especially good idea if you’d like for your family to maintain its current way of living.
Check in with your life insurance agent after major life changes to make sure your policy always has you and your family as well as your interests fully covered.