6 Reasons Why You Should Review Your Life Insurance Policy

There are plenty of aspects of your life that you’re able to manage predictably, but as you know, life doesn’t always go according to plan. There are certain things that are simply outside of your control. The way you’re able to react to these changes will end up being one of the things that define you.

As your life progresses, your life insurance needs will shift. It’s good to remind yourself that life these products are not one-size-fits-all, so reviewing your choice on a regular basis will only be to your benefit.

We’ve summerised the most important touch points that will make you stop and think about your current policy.

1.      Has your legacy changed?

Have you recently moved into a new home or do you have new additions to your family? If so, your current policy may no longer cater for your needs.

2.      Has your lifestyle changed?

The health and lifestyle you had when you took out your policy determined the premiums you are paying today. If you got a promotion or you’ve stopped smoking then reviewing your policy and potentially paying lower premiums is a smart way to reward yourself.

3.      Are you getting the best deal?

The combination of technological and medical advancements along with higher life expectancies means the average cost of life insurance has come down in recent years. This means you may be able to get a better deal with your current or new provider.

4.      Are you taking advantage of product innovation?

Life insurance products have developed significantly over the last decade with more and more variations available to meet different client needs. Some providers now offer premium products and cash backs. It’s worth seeing if you’re able to cash in on these.

5.      Are your premium increases getting out of control?

Life insurance products have developed significantly over the last decade with more and more variations available to meet different client needs. Some providers now offer premium products and cash backs. It’s worth seeing if you’re able to cash in on these.

6.      Do you trust your insurer with your life?

A life insurance policy is a long-term obligation with an insurer to pay out a sum of money, hopefully many years in the future. When reviewing your policy, you should also check to make sure your policy is with a company that is financially strong.

These points illustrate how important it is to keep up with changing times. Reviewing your life insurance policy from time to time will help you make sure it’s up to date with your current needs.

CompariSure is an independent life insurance comparison website and just what you need to start reviewing your life insurance policy today. Click on the button below and with just a few simple clicks you’ll have quotes from South Africa’s largest insurers.

Our team can then also give you a call and help you with the rest of the process to ensure you’ve got the right cover for your needs, and at the right price.

Getting quotes on our site can be done in under 60 seconds, and you could stand a chance to win a [X]. Competition runs from [x June to x July].

Compare now, it might just be the best thing you ever do for your family.