With the approach of New Year we often take stock of where we are financially. It’s a perfect time to reflect on changes in your life during the previous year and make plans for a better year that lies ahead. This is an excellent time to schedule a review of your Columbia life insurance policy to ensure you have adequate coverage.
Thinking of life insurance may be stressful but making necessary changes will adequately protect your loved ones in the year that lies ahead.
A financial review checklist might include:
- Organize financial documents. Include all insurance policies, checking and savings accounts statements, investment statements and your tax return from the previous year.
- Did you receive a promotion or pay raise? Did your salary decrease in the bad economy? Did you change jobs?
- Did you buy or sell a house or move to a new location?
- Did you sell, trade or buy an auto?
- Did you marry or divorce?
- Did you add a new child to your family or send a child off to college?
- Did you buy a new life insurance policy, or buy home insurance, auto insurance or health insurance?
- Do you expect any of the changes above to occur in the New Year?
Review Your Columbia Life Insurance Policy
A review of your life insurance policy should be done after you have determined your current assets, made a list of changes in your life that will occur in the next year and evaluated your finances.
For a professional evaluation ask a professional insurance agent to his advice. With the aid of a trusted agent you can:
- Decide if the amount of coverage offered by your whole life or term life insurance policy is sufficient for your needs both now and in the year to come. This procedure is a priority if your lifestyle, your debt load or your financial outlook has chance in the past year.
- Make any changes necessary to the beneficiaries listed on your life insurance policy
- Evaluate any future need for long-term care or disability insurance
- Ask your agent about new insurance products that may be available to you in the coming year
If your evaluation includes a meeting with your agent or if you are shopping online for a new or additional life insurance policy, spend some time looking at other insurance policies as well.
See how much you could save today on your life insurance. Get your free Columbia life insurance quotes today!
