New Year's Resolution: Get your life insurance ducks in a row

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1. Review your beneficiaries 'life insurance
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   too often, people buy life insurance, and leave the political sit there year after year without review that they have designated as beneficiary of the policy. A review of the beneficiaries is crucial because, after all, what good is life insurance if the death benefit will not be used by those who need it most? Situations that require a change of beneficiary are (among others!):
   • a change in marital status
   • one of your recipients is gone
   • you had more children

   It is equally important that you not only selected the main beneficiary okay, but make sure your secondary beneficiaries are labeled correctly so.

2. Make sure you have enough life insurance coverage.
   
   Life insurance exists to help you protect your family financially if you were no longer in the picture. This protection tends to change over time. You may have been significant lifestyle changes have or had additions or subtractions to your family. Or, you might have had wage increases in recent years, providing your family with an increase in living standards. Remember, it is a good rule of thumb to make a cover that is 10 to 15 times your net income. If you purchased a policy a few years ago, the current amount of life insurance coverage could be your family to a loss if you do not address these changes. If you're not sure how much life insurance you may need, start by using life insurance to the nonprofit LIFE Foundation Calculator needs.
3. Find out if you can save money on your life insurance policy.
   
   Look carefully underwriting class if you have anything less than the best rates on your policy. If you have been "evaluated" for health reasons (which means you pay the rate due to a higher health status), you can now qualify for much better life insurance rates if the condition is now under control or has existed for a long time. This is especially true if you are a smoker, had any type of cancer, lost weight or got your blood pressure or cholesterol under control.

   As you can see, there are several things you can do to make sure you have all your ducks in a row when it comes to your life insurance. Taking 10 to 15 minutes to review your existing coverage, you make sure that your family is well covered.

William Rowan is the founder of eTermLifeInsurance.net, a site-oriented term consumer education for life insurance and comparison. His only goal is for consumers to find the best life insurance policy for their individual situation.

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