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Excuses, Excuses, Why People Put off Buying or Reviewing Their Life Insurance Policies. Part 3

By Ralph R. Dickinson

“But I already have life insurance!”

That’s great! However, there are many things to consider, even if you think you are up to snuff on your current policies;

1. Do you have enough coverage? You should have 10-20 Times your gross annual income in life insurance so you are able to adequately protect the loss of your current income. If your income rises you should supplement your current Life Policies with additional Term Life Protection.

2. Have you had a change in your circumstances? You should review your policies when you add dependents or when dependents move out. A Life Insurance review would be a smart move if you started a business, added any risk investments to your portfolio, or taking out financing of any kind.
Most families and business owners are actually underinsured and if they ever need to make a claim, the Death Benefit received would not be enough to cover their current needs and debts. It is so very important that you review your coverage annually as this will keep you current with your ever-changing life situations such as:
• Future college expense
• Buying out business partners
• Paying off your Mortgage
• Paying off Consumer Debt
• Setting up a Lifetime Income Stream for your loved ones

An Annual Policy Review is a simple, no-cost way to preserve your estate and help you know that you prepared.  Let us Quote you NOW!