When life changes, so should your life insurance policy. Protecting your family and supporting them financially requires you to regularly reassess your coverage. If it has been a few years since you last spoke with your agent about this type of insurance, these three events may have altered the kind of policy you need.

Disabled Children

A disability developing in your spouse has relatively little effect, but disabled children likely mean they should have their own separate policies to provide for them. This means the loss of your spouse doesn’t end their financial support.

Adjusted Rates

Policies purchased before 2009 are based on mortality rates from three decades ago, which were higher. Switching to a modern plan could save you a lot of money in the long run.

Growing Debt

Second mortgages and mid-life loans call for an increased policy. Since most families use life insurance payments to settle debts and avoid financial hardship, the coverage needs to grow in proportion to the debt.

When you are ready to tailor your life insurance policy to your needs, contact Martplan Insurance Agency in La Habra, CA.