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No one likes to think about their mortality, but it’s essential to have a life insurance policy in place in case the worst should happen. And while you may not need to think about your life insurance very often, there are certain times in your life when it’s a good idea to look at your policy and make sure it’s still appropriate for your needs. Here are four life events that should prompt you to update your life insurance in Boise, ID.
1. Marriage
Updating your life insurance is a good idea if you’re getting married. When you’re single, your life insurance needs are likely much different from when you’re married. A two-income household suffers when one spouse dies, so you’ll want to ensure your life insurance is enough to cover the loss of income.
2. Birth or Adoption of a Child
When you have a child, you’ll want to make sure your life insurance is enough to cover the costs of raising them. This includes things like childcare, education, and other expenses. You may also want to consider getting a life insurance policy for your child, known as a child rider. Your Fuhriman Insurance Agency agent can help you determine the right amount of life insurance for your family.
3. Change in Financial Situation
You’ll want to update your life insurance if your financial situation changes. This could be because of a change in income, a change in debts, or a change in assets. You’ll want to ensure your life insurance suffices to meet your needs. For example, purchasing a home or starting a business will likely require more life insurance than you had previously.
Learn more about updating your life insurance policy by contacting Fuhriman Insurance Agency today. Our experienced and friendly agents are here to help you find the right policy for your needs. Call us or stop by our office in Boise, ID to get started.