Introducing Evertree Mountain States
Congratulations! You’ve had your life insurance policy for a year. There is nothing that can mimic the peace of mind a life insurance policy gives you and your family. For just a few bucks each month, you know that your family will have the finances they need if they can’t count on your income each year. Now that you have life insurance, it’s important to get your policy reviewed each year. If you don’t, you may find that you are missing some of your insurance benefits.
Review Life Changes to Ensure You Have Enough Life Insurance
Although you purchased the life insurance policy that best met your financial needs a year ago, things can change. If you had a baby, purchased a home, or realized one of your children will be going to college, you may want to increase your life insurance policy. You can increase your policy at your annual review. In some situations, an increase may not warrant a medical exam.
Determine if You Can Be Re-Rated
If you were a smoker when you purchased your life insurance, and you quit shortly after, you may be eligible to have your policy re-rated. Typically, as a smoker, or someone who uses tobacco products, you will likely pay more for your life insurance than someone who is of a similar age and health status, but who doesn’t smoke. You can ask your insurance agent to resubmit your application to determine whether you qualify for a reduced rate for your monthly premiums.
Change Your Beneficiaries
Another reason you may want to review your life insurance policy is to change your beneficiaries. Many people who purchase life insurance may not have all the information they need about their beneficiaries at the time the policy is written. If you’ve forgotten to update this information, then your annual review is a great opportunity for you to change who your designated beneficiary is on your policy.
Evertree Mountain States in Fort Collins, CO values reviewing our clients when it’s time for their annual review. In fact, we encourage all of our clients to make an appointment to speak with their insurance agent so we can help you determine if your current policy still meets your needs. You can begin the process by visiting our website to see what life insurance policies are currently available.