September is Life Insurance Awareness Month

On-Air

(WTHN) — September is Life Insurance Awareness Month.

Expert Scott Smith, President and COO of Vantis Life explains why you should review your policy.

Why is now a good time to conduct a check-up on your policy?

Many people view purchasing life insurance as a one-and-done deal, but neglecting your policy could spell trouble down the line.

· Keep pace with lifestyle changes. Have you recently bought a house or retired? If so, these major lifestyle changes could warrant different types of coverage.

· Update beneficiary designations. If you’ve recently gotten married or had children, don’t forget to update the beneficiaries on your policy. It only takes minutes.

· Monitor term policy expiration. If you hold a term policy, one of the most common types for young families, keep an eye on when that term ends. You might have an option to renew.

What should you know if you don’t currently have life insurance, but would like to buy it?

Purchasing life insurance is easier than ever before and can be done online in as little as 30 minutes.

While you might currently have life insurance through work for free, this typically covers the bare minimum and might not be suitable for your current lifestyle.

How much life insurance do I need?

A general rule of thumb is to look for a policy that would cover 7-10 times your income.

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