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Frequently Asked Questions

When is it time to update my coverage?

Insurance protects what matters most , your family, assets, and business, from the unexpected. It’s a good time to review your coverage whenever there’s a major change in your life. Some common examples include:

Personal life Events

      • Change in marital status

      • Birth or adoption of a child

      • New drivers in your household

      • Children leaving for college

      • Starting a new job or home business

      • Changes in income

      • Paying off a car loan

      • Buying a home

      • Moving to a new apartment

      • Major home renovations

      • Nearing retirement

      • Purchasing high-value items (jewelry, antiques, electronics, etc.)

Need help deciding?
Print or download our Life Stages and Events Checklist, then fax, email, or mail it back to us. We’ll review it with you and help assess your coverage needs.

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Financial Life Insurance

Do I need a life insurance policy?

Yes — most people benefit from having life insurance. It's one of the best ways to support your loved ones financially if something happens to you. Life insurance serves several purposes.

      • It can provide mortgage protection.
      • It serves as replacement for income lost by a family wage earner.
      • It can help pay for services provided to family members.
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How Much Life Insurance Do I Need?

Since the goal generally is to provide for loved ones over a period of time, a common rule is that each provider in the household should have at least ten times their annual salary or annual contribution value. Any outstanding mortgage balance or other large debts should also be considered in your calculation; however, this amount should be in addition to the amount purchased to provide income protection.

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How often should I review my life insurance needs?

As your life changes, Review your life insurance at least every five years — or sooner if there’s a major change such as:

  • Marriage or divorce

  • A new child

  • Buying a home

  • Changing jobs

  • Starting a business

  • Retirement

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Why have I been hearing so much about long-term care insurance?

People are discovering that long-term care insurance can help pay for extended care without exhausting personal finances. As the general population gets older, long-term care (including nursing home and in-home care) has become a costly necessity for many families. Without long-term care insurance, families can find their homes, savings, and other assets in jeopardy as they struggle to pay the costs. By planning and considering options to help pay for care, these situations can be avoided.

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