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Life Insurance Tune Up Check ListLife Insurance Tune-Up Checklist

1) When does the time period on my temporary term policy expire?

  • What can I do to extend the coverage period?
  • What do I like best about my current coverage?
  • Can my current coverage be improved?

2) Should I utilize my guaranteed right to upgrade my term coverage to lifetime coverage with no medical questions?  Is this right about to expire?

3) How many years of my income will my life insurance provide my family?  1, 5, 10, 20, Lifetime? Is this what I want?

4)  Do I have enough coverage to pay of all current debts, mortgages, AND provide my family sufficient income?

5) What type of life insurance is best for me now? In the future?

  • Two types— Temporary Term and Permanent For Life
  • Which do I have?
  • Which do I want?

6) Did I switch jobs and lose coverage in the switch?

7) Are my original beneficiaries still the right ones to receive the money?

  • Are there now special circumstances that impact who should get the money?
  • I’m now divorced. Who is listed as beneficiary (I hope not my Ex!)

8) My children are grown and I now have grandchildren. Should I change the beneficiary to include them (per stirpes)?

9) Where are my policies? Would the beneficiary know where to find my policies if I had died last month?

10) Should I consider transferring existing cash, CD’s, etc. into a permanent cash-accumulating policy that provides a guaranteed 4% rate of return with no chance for a loss of principal?

11) Wouldn’t it be nice to have one spreadsheet listing all the details of all my policies.

(We provide these for all clients!)

Contact Merriken Financial Group, Inc. today to customize or update your insurance portfolio.