A Policy Review Isn’t Just a Checkup—It’s a Reality Check

Life insurance isn’t something you set and forget.

Over time, your:

Income
Family situation
Debt
Health
Long-term goals

can all change.

A policy review helps you confirm whether your coverage still makes sense today—not just when you first bought it.

1. Does My Coverage Still Match My Current Needs?

Start with the most important question:

Is the death benefit still enough for my family?
Has my income or debt changed significantly?
Am I underinsured or overinsured?

Your coverage should reflect your current life—not your past situation.

2. What Happens If I Died Today—What Would This Policy Actually Do?

This helps you understand real-world impact:

Who would receive the benefit?
Would it fully cover debts and expenses?
Would my family need additional support?

If the answer is unclear, your plan may need adjustment.

3. Is My Policy Still Affordable Long-Term?

Ask:

Can I comfortably maintain this premium?
Will costs change in the future?
Does this still fit my budget if income changes?

Sustainability matters as much as coverage.

4. Is My Policy Still the Right Type?

Life changes can shift your needs.

Ask:

Does term insurance still make sense, or should I consider permanent coverage?
Is my current whole life or indexed universal life policy aligned with my goals?

The right type of policy can change over time.

5. How Has My Cash Value (If Any) Performed?

If you have permanent life insurance:

How has cash value grown?
Are projections still on track?
Are fees or charges affecting performance?

Understanding actual vs. expected performance is key.

6. Am I Properly Protected for My Current Life Stage?

Your needs may have changed due to:

Marriage or divorce
Children or grandchildren
Career changes
Business ownership

Your policy should reflect your current responsibilities.

7. Are My Beneficiaries Still Correct?

Ask:

Are all beneficiaries still appropriate?
Do percentages still reflect my intentions?
Should I add contingent beneficiaries or a trust?

This prevents unintended outcomes later.

8. What Risks Could Affect My Policy in the Future?

Depending on the policy type, ask:

Is there any lapse risk?
What assumptions is the policy based on?
What could cause underperformance or failure?

Understanding risk helps prevent surprises.

9. Are There Better Options Available Now?

Insurance markets change over time.

Ask:

Would a different carrier offer better pricing?
Are there newer policy structures that fit me better?
Should I consider converting or adjusting coverage?

Improvement opportunities may exist.

10. How Does This Fit Into My Overall Financial Plan?

Your policy should connect to:

Retirement planning
Debt strategy
Investment goals
Estate planning

If it exists in isolation, it may need alignment.

Why Policy Reviews Matter More Than Most People Realize

Without regular reviews:

Coverage can become outdated
Costs can become inefficient
Beneficiary design may become incorrect
Financial gaps can go unnoticed

A policy review keeps your plan current.

Where This Fits Into Your Plan

At My Term Life Insurance, we help clients review and optimize their coverage using term, whole, and indexed universal life insurance so their policies stay aligned with their evolving financial goals.