When Should I Update My Life Insurance Coverage? Don’t Wait Until It’s Too Late.
Life changes fast — and if your life insurance policy hasn’t changed with it, you could be putting your loved ones at serious risk. Too many people buy life insurance once and forget about it. But a set-it-and-forget-it approach doesn’t work when your family, finances, and responsibilities evolve.
At Arthur Blake Insurance, we often get asked: “When should I update my life insurance coverage?” The answer? Sooner than you think — and definitely after any major life event.
Life Changes. Your Coverage Should Too.
Here are the moments that should trigger a policy review — no exceptions:
- You got married or divorced
A change in marital status often means a change in financial responsibilities. Does your policy reflect that? - You had a child (or more children)
Growing your family is one of the biggest reasons to increase your coverage. Will your current policy support your children’s needs if you’re no longer here? - You bought a home or took on new debt
A mortgage is a major financial commitment. If you pass away unexpectedly, will your policy cover what your family still owes? - Your income increased
A raise or promotion is great — but it also means your standard of living is likely increased. Is your policy enough to maintain that for your family? - You started or closed a business
Life insurance plays a critical role in business succession and debt protection. If your professional life changed, your policy should, too. - Your health has changed
If your health improves, you may qualify for a better rate. If it worsened, your current policy could be a lifesaver — literally.
Don’t Put It Off — Review Your Coverage Now
Most people don’t realize how affordable life insurance can be — or how vital it is to keep it current. In fact, studies show Americans overestimate life insurance costs by more than 3x. For example, a $250,000 term policy often costs just $160 per year — not the $500 many assume.
And while it’s tempting to avoid life insurance because it’s complex or uncomfortable to think about, doing nothing could leave your family financially vulnerable.
Talk to an Expert Who Makes It Simple
Whether you need to update your coverage, understand your options, or start from scratch, our team at Arthur Blake Insurance is here to help. We’ll walk you through your options, help you make informed decisions, and ensure your policy keeps pace with your life.
Our experienced team of agents at Arthur Blake Insurance are awaiting to assist you! Our agents in Plano, TX can help answer all of your questions and ensure you receive the best premium coverage. Contact our agency here or call (972) 954-6383 to speak with a local agent today. Let us help you secure better coverage at a price you can afford!