When Should You Review Your Life Insurance Policy? Key Times to Revisit Coverage

Life changes fast — and your life insurance should keep up. Whether you purchased your policy years ago or just recently, reviewing your coverage regularly ensures it still aligns with your financial goals, family needs, and health situation. A quick policy check-up can reveal opportunities to improve your protection, reduce premiums, or prevent gaps in coverage.

At DeFazio Insurance Brokerage, Inc., we help families and individuals make sure their policies continue to serve them well — today and in the future.

⭐ Key Times to Review Your Life Insurance Policy
1. Major Life Changes

Anytime your personal or financial responsibilities shift, it’s smart to revisit your coverage. Common triggers include:

Marriage or divorce

The birth or adoption of a child

Buying a home

Taking on new debt

Becoming a caregiver for parents

Starting or selling a business

These events often increase your financial responsibility, making adequate protection more important than ever.

2. Changes in Income or Debt

If your income has significantly increased, your coverage may need to grow with your lifestyle. Conversely, paying off large debts — like a mortgage — may offer flexibility to adjust your coverage downward.

A review ensures your policy accurately reflects your current financial picture.

3. Improvements or Changes in Your Health

Your health affects both eligibility and pricing. If your health has improved since you purchased your policy, you may now qualify for better rates. This may apply if you've:

Quit smoking or vaping

Lost weight

Improved your blood pressure or cholesterol

Reduced or eliminated medications

Made consistent lifestyle changes

If your health has declined, reviewing your policy ensures it's still affordable and properly structured.

4. Your Term Policy Is Nearing Expiration

If your term life insurance is approaching expiration, you should decide whether to:

Renew your current policy

Convert it to permanent coverage

Shop for a new level term policy

Reviewing early gives you more options — and better pricing.

5. Beneficiary Updates

Life insurance is meant to protect the people you love. Periodically reviewing your beneficiary designations ensures proceeds go exactly where you intend, especially after marriage, divorce, births, or deaths.

6. Whole Life & Universal Life Performance Checks

If you own a permanent policy, it’s important to review:

Cash value performance

Current funding levels

Interest crediting

Long-term projections

Early adjustments can prevent unexpected lapses or premium spikes.

7. Annual “Financial Check-Up”

Even without major life changes, we recommend an annual review to verify that:

Coverage still aligns with your needs

Premiums remain competitive

Beneficiary information is up to date

Your protection keeps pace with inflation

You’re not overpaying for outdated coverage

Why Policy Reviews Matter

A life insurance policy is a cornerstone of responsible financial planning. Reviewing it regularly ensures your coverage continues to protect your family, your home, and your long-term goals — exactly when it’s needed most.

Need Help Reviewing Your Policy?

At DeFazio Insurance Brokerage, Inc., we provide clear, no-pressure guidance to help you understand your options and make confident decisions.

📍 Website: www.defaziolife.com

📞 Phone: (916) 715-3375
📧 Email: andrew@defaziolife.com