Life insurance polices should be reviewed often

Mar 28, 2012

People should review their life insurance polices often.

When looking at permanent or term life insurance, people should review their policy on a consistent basis to make sure the coverage continues to meets their needs.

As time goes on, life insurance needs often change, whether a policy owner requires more insurance due to the birth of a child or requires less because a mortgage has been paid off, a policy review is the best way to identify your current needs and if you need supplemental coverage or a new policy.


According to Proquest, Ralph Heiman, principal at SMF Financial Advisors LLC, says "'s important to understand the performance of a life insurance policy, because you can make adjustments along the way."


Heiman told the news source that in about 70 percent of the life insurance reviews he does, changes or alternations are needed for policies.  He said certain policies simply need to be altered due to the different economic environment in 2012 compared with a decade or longer ago.

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