Five insurance considerations for the new year
The start of a new year is a natural time to re-evaluate your insurance coverage needs. Changing circumstances may require updated policies. Did you have a baby? Get married? Purchase a new home or car? If so, you'll want to check whether you have the right protection. Your agent or company can help determine whether your coverage is adequate or if you might need to make adjustments. Even if you haven't experienced a life-changing event, you could be eligible for discounts or new insurance products that may better serve your needs. 1. Life insurance Changes–such as a birth, divorce, remarriage or even a new mortgage or new job–are indicators that you might need to make changes to your life insurance policy. Read your policy carefully and answer these questions: Do premiums or benefits vary from year to year? Do the total benefits grow over time? Are there benefits that are not guaranteed? Do premiums change over time? What happens if I quit paying premiums – do I maintain some