Major Life Events

Marriage: If you get married, you may need to update your life insurance to ensure that your spouse is financially protected.
Birth or Adoption of a Child: As your family grows, you’ll want to make sure your children are financially supported in case something happens to you.

Divorce: After a divorce, you may need to update the beneficiaries and adjust your coverage based on new financial responsibilities.

Buying a Home: If you take on a mortgage, it’s wise to have enough life insurance to cover the debt and protect your family from losing the home.

Retirement: As you approach retirement, you may want to reassess your coverage, especially if you no longer have dependents or significant debt.

Changes in Income or Financial Situation

Increased Income: If your income has increased significantly (e.g., a new job, business growth, or a raise), you may want to increase your life insurance coverage to reflect your ability to provide more for your loved ones.

New Debt: If you acquire new financial obligations, such as student loans, credit card debt, or loans for a second home, you might need to update your life insurance to cover those liabilities.