Collecting wealth, starting a career, and building a family can make life rich and meaningful, but they also mean taking on more responsibilities. As your role in life changes, updating your life insurance policy will ensure that those who rely on you are taken care of if something happens to you. Below are a few common life situations that should trigger a review of your life insurance.

3 Times You Should Update Your Life Insurance

1. Marriage

A small life insurance policy that covers your burial expenses may be sufficient when you’re single, but getting married comes with new responsibilities. If you were to suddenly pass away, would your spouse be able to pay for your joint debts and continue pursuing your shared dreams? Increasing the value of your life insurance policy after marriage provides peace of mind to both you and your spouse.

2. Childbirth

Parenthood is one of life’s most challenging, rewarding roles, but it’s also an enormous responsibility. After the birth of a child, many parents choose to carry enough life insurance to cover their children’s future education, pay off the mortgage, and ensure their loved ones are taken care of.

3. Retirement

Some significant life events come with fewer responsibilities, so you might want less life insurance coverage. Once your children have started their adult lives and the mortgage has been paid off, you probably won’t need as much coverage as a young parent.
 

Since 1965, families throughout Georgia’s Rabun County have relied on the independent agents at A.W. Adams Insurance, LLC to protect what matters most. Their agents proudly offer an unmatched level of personal service, taking the time to understand your needs and shopping around to find a policy to meet them. To request your free life insurance quote, visit their website or call (706) 782-5100. You can also follow their Facebook for more advice.