Signs You May Need to Increase Your Life Insurance Coverage

Life changes, and so do your insurance needs. Here are five signs it might be time to increase your life insurance coverage to protect your family’s financial future.

1. You’ve Recently Had a Child

With a new family member, additional coverage can help ensure their financial security.

2. You’ve Taken On a New Mortgage

Large financial commitments, like a mortgage, often warrant additional life insurance to cover the debt.

3. Your Income Has Increased

With a higher income, your family may have adjusted to a higher standard of living, requiring more coverage.

4. You’re Approaching Retirement

Approaching retirement may require a reassessment of insurance needs to ensure assets are protected for the future.

5. You’ve Experienced a Major Life Change

Significant life events, such as marriage, may increase your need for coverage to protect your loved ones.

Life changes may signal it’s time to reassess your life insurance coverage. For general advice on reviewing your policy, reach out to Hooper Insurance.