4 Life Events That Change Your Needs

When was the last time you wondered if you had the right amount of life insurance — then pushed the thought aside because you had work to do, had dinner to make or found the topic too stressful to think about? 

We’ve all been there. 

To help you think things through, here are some situations when you should consider adjusting your life insurance coverage.

This might mean buying a new policy, increasing coverage, changing a beneficiary or even decreasing coverage. 

Having or Adopting a Child

When someone else depends on your income and caretaking ability for their own well-being, you should carry enough life insurance to support them from the present until they can be self-sufficient. That might mean until age 18, until college graduation, or in the case of a special needs child, indefinitely.

Getting Married

Getting married means legally combining your assets and liabilities, and you need enough life insurance to pay off those liabilities. Life insurance makes sure you can support your partner financially even if you aren’t around. 

Getting a Big Promotion

A significant promotion might come with a bump in employer-provided life insurance. But if you lost your job, would you lose all your coverage? An individual policy stays with you no matter where you work.


Many people no longer need life insurance once they retire. They’ve built up enough of a nest egg to support themselves and their spouses for the next three decades. But in some cases you may want permanent coverage: for example, to pay estate taxes.

Tip: Always keep beneficiaries up to date, no matter how much coverage you have.

Even if none of these situations applies to you right now, it’s important to re-evaluate your coverage regularly. Have questions about how much insurance you need? Reach out to discuss your options today.