As our lives change and grow with varying circumstances and new additions, such as children or debt, our needs for insurance will also evolve. Love (i.e., dependents) and obligations (i.e., loans) will influence your insurance requirements and should be frequently re-evaluated to ensure that you are making the most appropriate and financially favorable decisions. Perhaps you are not aware if you should conduct an insurance audit or not. The following scenarios are usually a good indication that you should thoroughly assess and review your current policy contract:
The specific type of insurance policy you have, as well as personal health or lifestyle changes, can influence coverage and premium prices. If any of the following factors apply to you, be sure to update your policy as you might be eligible for a rate reduction.
Insurance policies that are generated for business purposes should be reviewed regularly to ensure the policy still offers adequate coverage to meet the needs of the company and includes appropriate beneficiary information. With a full life schedule, it can be easy to forget about keeping insurance policies up to date. However, major changes in your business, such as increased growth and new partners, can have a profound impact on your coverage needs and premiums. Be sure to conduct insurance audits regularly to ensure your policies are still meeting your needs.
Contact us to see how we can help.