Most people put a great deal of thought into selecting a life insurance policy. And they should. Decisions we make about Illinois life insurance today will impact the people we love most down the line.
But no matter how thoughtful your approach to picking a policy was at the jump, life can sometimes throw a curveball or two. By periodically revisiting your policy and its terms with the help of a trusted team like that at the David Nelson Agency, you’ll set yourself up to hit it out of the park. Why?
Family Adaptation
Has someone gotten married? Has someone gotten divorced? Did you recently welcome a new bundle of joy to your family? Did your children gift you with a grandchild? Has a fur baby come bounding into your world? Have you lost someone you love?
Every single day, the moving pieces that make up our lives shift in unpredictable ways, leaving us with a slightly different view of the world ahead. Life insurance isn’t always top of mind when these changes come to pass, but those changes can be consequential nonetheless.
By setting up a regular schedule for reviewing your Illinois life insurance coverage, you essentially create a reminder in the midst of the daily chaos you navigate to pause and take stock. Such meetings can also help support your review of other important financial and estate planning elements in your life.
Reassessing Coverage
Time might be considered the right equalizer, but in the world of Illinois Life Insurance, it’s a magnifying glass. The factors that colored your decision when you first selected your term policy or nailed down coverage through a permanent policy have likely changed as much as you have.
Whether you’re talking about the influence of inflation on living and death expenses, the needs of your loved ones relative to the way of life they’ve become accustomed to, or your need to access cash value from a permanent policy down the road, there are a variety of places where small shifts in our life can make a big difference in terms of the shape and size of the policy we should procure. Checking in for guidance from folks like the team at the David Nelson Agency can help you make sure you fully understand the landscape in front of you.
Maximizing Cost-Efficiency
Most of us hope that, like a fine wine, we’ll get better with age. Or at least smarter. And statistics show this to be true. More adult Americans are quitting smoking today with age than in any generation prior. An emphasis on healthy eating and physical activity at every age has led to a downward trend in obesity and associated conditions like diabetes. Concerted efforts to prioritize preventative care has led to earlier intervention for conditions like cancer and a drop in those like heart disease.
But what many don’t always realize is that our commitment to getting better with age can impact a lot more than our waistlines and life expectancy. It can also influence what you pay for life insurance. Touching base with people like the David Nelson Agency to ask questions about your Illinois life insurance policy gives you a great way to see if you’re missing any potential savings.
Identifying New Coverage Opportunities
Forget what you think you know about the insurance industry. We’re a lot cooler than you think.
Well, perhaps cool is a bit of a stretch, but the idea of the insurance world being stodgy and stiff couldn’t be further from the truth. Each year, the industry works tirelessly to bring better service and offerings to our clients in a way that takes advantage of trends in technology, finance, regulation, and more.
Taking a look at your life insurance coverage once in a while can help you take stock of what’s available and adjust accordingly. It can also highlight products that were not previously relevant to your circumstances but could be today.
Keep an Open Mind
Selecting the right Illinois life insurance coverage for you and yours is an important decision. It’s important enough that you should absolutely double-check your math from time to time. Schedule a check-in with the David Nelson Agency today to make sure you’re on track for where you want to be.