How often should I review my life insurance coverage?

Life insurance needs are not static—they evolve with your financial life. A general guideline is to review your coverage at least every three to five years or whenever you experience a major life event.

Key triggers for a coverage review include: marriage or divorce (beneficiary updates and income changes), birth or adoption of a child (new dependents increase coverage needs), purchase of a home (new debt obligations), significant income growth (existing coverage may now be inadequate), business formation or expansion, and approaching retirement (need may shift from income replacement to estate liquidity).

For permanent policies, review the in-force illustration with your agent every two to three years to confirm the projected cash value remains on track. Universal life policies in particular can be sensitive to interest rate changes and cost-of-insurance adjustments over time.

A policy that was right five years ago may be over- or under-insuring you today. Agents in our network offer no-obligation policy reviews that examine your current coverage against your current financial picture and identify any gaps or opportunities.