Children
Have you had more children since your last life insurance policy was taken out? If so you will need to ensure that your cover is adequate to ensure they will receive the money you want them to and they are included in your trust.
Another variable to consider is that if your children are now self-sufficient and have gone through schooling and university there may be no need to include coverage to ensure they receive a payout from your life insurance policy.
Debt
Over time we can find our debt levels changing. Whether that be remortgaging your property, taking out a personal loan, or accessing funding for a new business venture. What this means is that the Life Insurance policy you took our x years ago will not pay off your new debt levels, so that if you were to pass away then
Second to this, your debt levels may have been reduced and so you are over covered which could be costing you money you need not spend.
Started a new business
If you have started a new business there will likely be a large investment on your behalf. If you were to pass is that investment protected and are your family going to receive that investment back? If not and you should be looking to ensure you are covered for the amount of the investment.
Trust
If you have used a reputable broker or provider your Life Insurance policy will have been placed in Trust. This allows for a quick payout upon your death and reduced tax implications. They are easy to set up and our experts can do this for you in minutes.
Parents getting older
As your parents get older they may begin to need care or even move back in with you. If you find yourself financially responsible for your parents it is important that they are covered if something should happen to you.
Medical Diagnosis
Have you or a dependent had a medical diagnosis since your last review of policy? Is there a chance it could get expensive as you or they get older? It is worth taking this into account when looking at your payout amount. Will the family member be able to look after or receive the care they need if you are not around to pay for it?
Speak to us today to discuss your policy and we will ensure you and your family are protected adequately. If we feel you are fully covered
