Key events in life prompt a call or email to a life insurance advisor. In our experience, marriage, the birth of a child, a job change, or the death of a friend or relative should (and many times do) cue a reassessment of one’s life insurance coverage.
Marriage – For many, this is the first time someone else relies on your income and/or benefits. What would happen to your spouse if you were to die unexpectedly?
Birth of a Child – With a child as a dependent, the proper life insurance coverage is even more important. Do you want to make sure that your child(ren) will be taken care of if you or your spouse pass away? Childcare costs, education expenses coupled with the basic costs of raising children also need to be considered?
Job Change – During initial client conversations, we often hear that “they are set” with life insurance coverage because “my employer offers life insurance.” While a great benefit, it’s often not nearly enough coverage and isn’t portable if the insured leaves for a new job. Group life insurance should never be a reason to hesitate to take that new job. When a new position comes with an increase in compensation, discussions center around appropriate amount and type of coverage that best meets their needs.
Death of a Friend or Relative – Unfortunately, tragedy hitting close to home prompts clients to start the conversation about updating their life insurance coverage. We all think “that won’t happen to me,” until it does.
Life happens, and chances are, one or more of these life events have happened to you. Is it time to reassess your life insurance coverage?
Securities and Investment Advisory Services Offered Through M Holdings Securities, Inc., a Registered Broker/Dealer and Investment Advisor, Member FINRA/SIPC. Rose Street Advisors is independently owned and operated. #4332774.1
Mark joined Rose Street in 2017 and helps clients with their estate, business succession, and family/business planning through the use of life insurance products.
He loves golf, skiing, hiking, and reading. Fun fact: Mark has both played and coached tennis at the collegiate level.