Renewal is a great time to review your insurance coverage. A lot can happen in a year, so follow these handy tips to ensure your insurance plan is up to date.
If you’re like most people, renewing your insurance may be the one and only time of year you think about your insurance plan. That means now is a great time to update your coverage and personal information.
It’s a small but important step to ensure a seamless experience.
Here are 6 things to consider updating during insurance renewal:
1. Your Contact Information
It’s important to ensure all your contact information is up to date so we can contact you, if necessary.
Simply log on to our client portal and review your details like email address, mailing address and phone number. Consider adding a personal email address instead of a work email, in case your employment changes in the coming year.
2. Payment Information
Want to set it and forget it? Setting up monthly payments is simple and secure, and it means your insurance coverage will auto-renew.
2. Your Beneficiaries
“Beneficiary” is more than an insurance term; it refers to the loved ones you want to care for. They’re the people or entities you want to receive the financial benefit, should something happen to you.
A beneficiary can be anyone you’d like it to be. It can also be a combination of loved ones, such as:
- Your spouse
- Your kids
- Your parents
- A business partner.
It’s important to ensure your beneficiaries are accurately reflected if you’ve experienced any life changes, such as a divorce.
To review your beneficiaries, log on to the client portal.
3. If You Have Sufficient Term Life Coverage
Term Life Insurance is crucial in financial planning, serving multiple roles beyond just offering a death benefit. It provides a straightforward, cost-effective solution for ensuring financial security for your loved ones. Benefits include:
- Income replacement
- Flexible use of funds
- Inheritance creation
- Policy flexibility.
For those with dependents, Term Life Insurance is essential for maintaining your family’s lifestyle and financial stability in the event of an unexpected loss.
Review your current coverage on our client portal and take our handy Needs Assessment to check how much coverage you should have.
4. If You Have Spousal Term Life Coverage
Did you know we also offer Term Life Insurance to CPA spouses?
Term Life Insurance for yourself is just one part of the financial coverage you should have for your family. By purchasing Term Life Insurance for a spouse, you’re providing further financial security for your family should something happened to your partner.
To add a spouse or discuss your insurance needs, book an appointment with a Licensed Advisor or give us a call at 1-800-661-6430.
5. If You Require Additional Insurance Options
Term Life Insurance is just one way of protecting you and your loved ones. You can complement your coverage that fits your needs, including:
- Long-term Disability Insurance
- Critical Illness Insurance
- Child Term Life Insurance
- Child Critical Illness Insurance
- Accidental Death & Dismemberment Insurance
- Office Overhead
—
We’re dedicated to taking care of CPAs and their families, which is why we’re here to help. Have a question or need assistance? Call us at 1-800-661-6430 or book an appointment with a Licensed Advisor.