As the seasons change, and we think about spring cleaning and decluttering our homes – it is also the perfect time to take stock of your financial well-being. One area often overlooked is life insurance and annuities. Just as you organize your home, reviewing your policies ensures they align with your current needs and future goals.
Why review your Life Insurance and Annuities?
Life changes over time, and so do your financial responsibilities. Major life events such as marriage, having children, buying a home or retirement can impact your insurance needs. By reviewing your Hermann Sons Life policies annually, you can ensure they still provide the right coverage for your loved ones.
Spring cleaning checklist for your policies:
- Review your coverage amounts
- Does your life insurance still provide enough protection for your family?
- Have you accumulated more assets or taken on new financial obligations?
- Update beneficiaries
- Have there been any changes in your family, such as marriage, divorce or birth of a child?
- Make sure your beneficiaries are up to date to avoid complications later.
- Evaluate policy types
- Do you have the right type of life insurance – term or whole life permanent coverage?
- If you own annuities, are they still aligned with your retirement goals?
- Assess your Annuity performance
- If you have an annuity, review its performance and payout.
- Determine if it still aligns with your retirement timeline and income needs.
A fresh start for your financial future:
Spring is a great time to take control of your financial security. By reviewing your life insurance and annuity policies, you ensure your loved ones are protected and your financial future is on track.
If you need help assessing your coverage, Hermann Sons Life is here to guide you through the process. Contact us today for a policy review and start the spring season with peace of mind.
