Life insurance isn’t a question of "why." It’s a matter of "when."
It’s true that many people don’t fully realize the importance of life insurance. However, even current policyholders neglect to update frequently. A "set it and forget it" approach is insufficient.
Whether it’s insurance needs, financial strategy, or estate planning, that’s why KC Wilson Insurance & Financial Services recommends regular reviews and revisions. Serving San Jose, CA, the agency lists five events that require an immediate re-evaluation of your life insurance needs.
Marriage is a major step. Yet it’s also a financial commitment. The unexpected death of a spouse leaves behind bills, debts, and other expenses. Life insurance helps alleviate this burden by providing for a surviving partner.
Expecting a child
Having a baby can be stressful. But expect a few less sleepless nights with the security of a life insurance policy. In the event of an emergency, increased coverage can cover these costs.
Buying a home
Life insurance can supplement mortgage payments if something happens to you. This ensures the house remains with your spouse, partner, or family after you’re gone.
Starting a business
Life insurance safeguards your business too. In addition to providing protection, a policy may protect investors and other stakeholders who have an interest in a company’s direction if you happen to pass.
The primary function of life insurance is to replace a deceased person’s wages. In retirement, this is less of a necessity. Social Security and pension may provide enough to warrant a decrease in life insurance benefits.
Contact KC Wilson Insurance & Financial Services
As life changes, your insurance policy should too. Serving San Jose, CA, the agency can find the appropriate coverage to best meet your needs. Schedule an appointment today.