Friedman Group
  • About Us
    • Careers
    • Privacy
  • Services
    • Business
    • Employee Benefits >
      • Share To Compare
    • Financial Services
    • Personal
    • Specialty Insurance
  • AP Blog
  • Pay Online
  • Contact
  • About Us
    • Careers
    • Privacy
  • Services
    • Business
    • Employee Benefits >
      • Share To Compare
    • Financial Services
    • Personal
    • Specialty Insurance
  • AP Blog
  • Pay Online
  • Contact

Welcome to The Friedman Blog

Revisit Your Life Insurance Needs Annually

9/28/2021

 
Revisit Your Life Insurance Needs Annually
How long has it been since you last reviewed your life insurance coverage? If you are like most people, chances are you long ago filed your policy away and haven't thought about it since.
​But life is not static, and circumstances change. Major life changes can shape how much financial protection you and your family need. But more than major life changes can affect your policy coverage, so it's a good idea to revisit your policy on an annual basis to see if it still offers the coverage you need.
 
Life changes
If you have a major life change, you should contact us for a full review of your policy. The change may have a significant impact on your insurance needs. Life changes may include:
  • Marriage or divorce
  • A child or grandchild who is born or adopted
  • An increase in your salary or starting a new job
  • Significant changes in your health or that of your spouse/domestic partner
  • Taking on the financial responsibility of an aging parent
  • Purchasing a new home
  • A loved one who requires long-term care
  • Refinancing your home
  • Coming into an inheritance.
 
Even if a year goes by without any major life events, it's still a good idea to review your coverage. The amount of your life insurance coverage should be sufficient to meet the current obligations and future needs of your loved ones. Some of those things can change without a major life event.
 
Other factors
If you have taken advantage of historically low interest rates and recently refinanced, make sure you have enough coverage to satisfy your new loan obligations. If you're single, consider the cost of a funeral, outstanding medical bills, credit card balances and ongoing financial assistance for elderly parents who may be dependent upon you. 

And while you're reviewing your coverage, it's also a good idea to confirm that your current beneficiary elections are still accurate.

Financially, you should review your life insurance policy on a yearly basis. Reviewing a life insurance policy alone can be a complicated endeavor, but we can guide you through analyzing your policy.
​
Also, if you have one of the above life-changing events, and if you're uncertain whether your current coverage is meeting your family's needs, contact us for a needs analysis to provide you the peace of mind that your family will be taken care of should the worst happen.

Comments are closed.

    Categories

    All
    Compliance
    COVID 19
    Cyber
    Employee Benefits
    Personal Insurance
    Property Casualty
    Risk Management
    Wellness
    Workers Compensation

    Archives

    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018

The Friedman Group
501 Bell St.
Dubuque, IA 52001
Phone: (563) 556-0272
Home
Business Insurance
Employee Benefits
Personal Insurance
Financial Services
Contact

AssuredPartners
An AssuredPartners Agency
In February 2020, The Friedman Group joined AssuredPartners, the 11th largest insurance brokerage in the U.S. This partnership provides us access to additional capital and a national footprint that enables us to continue to negotiate the most favorable coverage terms and conditions for our clients, and allows us to provide an even broader spectrum of risk management support services. ​
© 2022 The Friedman Group, Inc.  Privacy Policy.