NOW Is a Great Time to Review Your Life Insurance – Advice from Your Jackson, MS Insurance Brokers

Planning for your future is the smart and responsible thing to do. Utilizing many employer benefits such as health or dental insurance, investment products, short or long-term disability coverage, and retirement planning are all good ways to start. Additionally, buying life insurance helps your family during their time of loss. A common mistake that many people make is to invest time and energy signing up for different policies, but then never review the information periodically. One constant in life is that change is inevitable, including your circumstances.

You don’t buy a new car and never take it in for an oil change or tune-up, so, why would you do that to your future? A good practice is to reevaluate your situation at least once a year and make tweaks where necessary. The experienced brokers from Executive Planning Group, P.A. can sit down with you and discuss your needs to ensure you and your family are ready for the future.

5 Reasons to Re-evaluate Your Life Insurance

Your policy should be a living document and routinely updated. Avoid buying and forgetting. Instead, consider if you have had any of these changes recently:

  1. Change in Marital Status: Did you got married or divorced? Take time to add or delete your spouse from your policy.
  2. Birth of a New Child (or Grandchild): Just like getting married, you now have another person depending on you.
  3. Opening a New (or Expanding an Existing) Business: It’s very important to make sure your company can continue functioning in the short term until further arrangements can be made.
  4. Change in Your Health (or Your Spouse’s Health): If your health has deteriorated, it may be a good time to reevaluate your policy.
  5. Purchase of a New Home: You may want your spouse to be able to pay off the family home if you die. Consider increasing your policy amount so they don’t have to stress over losing the house after your death.

Life Insurance Options

Different life changes require different insurance needs. There is a product to help you meet your goals. Your EPG broker can talk to you about:

  • Term Life Insurance – Protection for a specified period of time (or term). This option can be less expensive than others.
  • Whole Life Insurance – A form of permanent life insurance for your entire lifetime. Often this is used as an investment tool.
  • Universal Life Insurance – This is another type of permanent life insurance that builds cash value that also earns interest.

Consult with a Knowledgeable Life Insurance Broker in Jackson, Mississippi

Take time to do a life insurance update with the help of the professionals at Executive Planning Group (EPG). We are here to assist you in making the best decisions for your future. Discover the value of our services today.

Give us a call at 601-982-3000 or request a quote online for financial planning services in Jackson, Mississippi.

Disclaimer: Securities Offered Through Valmark Securities, Inc. Investment Advisory Services Offered Through Valmark Advisers, Inc.

Executive Planning Group is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.

This entry was posted in blog. Bookmark the permalink.