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When should you fine tune your insurance protection?

 
December 9, 2019   3 minute read

 
Major life events bring changes that often call for a review of your financial plan.

Are you about to borrow for a new home or car, get married or expand your family? If so, there's more on your mind than your insurance coverage. However, when meaningful change happens, it's a sure sign to look over your insurance strategy and how it fits in your overall financial plan.

A Positive Side

It's understandable that when we think of life insurance, we may think about the negative associations, such as the loss of a loved one. However, there is a positive side to insurance – you are buying peace of mind and protection for your family and loved ones.

Select the Right Type of Insurance for Your Needs

Imagine your spouse having to make mortgage payments, pay living expenses, put your children through school and prepare for retirement when the earnings expected from your career are cut short. Having the right type and amount of insurance will ensure that life continues without major sacrifices and struggle for your family. Our ability to earn an income is clearly valuable to our spouses and family.

Protect Your Earnings for the Future

Insurance can be thought of as financial protection for dependents. It can replace the income that your family will lose if you were to die unexpectedly, become critically ill or were disabled and unable to continue working. With the right amount of insurance, you're making sure that the money you intend to earn in your working life will be there for your spouse or family to use.

Get Started Today

Successful insurance planning requires detailed financial knowledge and expertise in areas like life, disability, and critical illness insurance products. That’s why it’s so important to work with an insurance advisor to create your insurance plan—and fine-tune it along the way.