Life Insurance Review Checklist
Policies get bought and then forgotten. This checklist is a calm walk through the handful of things worth confirming, so you actually understand the coverage you own, and whether it still fits.
Who this is for
- Anyone who bought a policy years ago and hasn't looked at it since
- People whose life has changed: marriage, a child, a new home, a business
- Anyone who was never given a plain explanation of what they own
What you’ll learn
- What details to confirm on every policy
- How to tell whether your coverage amount still matches your life
- Why beneficiary designations deserve a second look
- When a change is worth considering, and when nothing needs to change
Why review coverage you already have
Life changes, and coverage bought years ago may no longer match it. Just as often, people simply never had their policy explained clearly in the first place. A review handles both.
Sometimes the most valuable outcome of a review is confirming you're well covered and don't need to change a thing. That's a good result, not a wasted conversation.
The things worth confirming
Most of a good review comes down to a short list of specifics. Work through the checklist below with your policy in hand. If any answer is unclear, that's usually the signal it's worth a closer look.
Your review checklist
- How much coverage you have, and whether it still matches your income and debts
- What type of policy you own, and how it actually works
- Who your beneficiaries are, and whether they're current and correct
- Whether the premium is one you can comfortably sustain
- For permanent policies, how the policy is performing and whether it's funded as designed
- Any gap in employer coverage that wouldn't follow you if you changed jobs
Common misunderstandings
People often think: If I have a policy, I'm covered and don't need to think about it.
In reality: Coverage bought years ago may no longer match your life, and beneficiary details can fall out of date. A quick review is worth it.
People often think: Reviewing my policy means someone will try to sell me a new one.
In reality: A review is not a sales appointment. Often the most valuable outcome is simply confirming you're in good shape.
People often think: The amount I picked years ago is still the right amount.
In reality: Income, debts, and family all change over time. The right coverage amount changes right along with them.
Your next step
If any answer above gave you pause, that's the signal to look closer. A Personal Wealth Review walks through your policy with you, in plain terms, and often ends with the reassurance that you're already in good shape.
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Ready to turn a guide into a plan?
It's free, and you'll leave clearer than you arrived.
Educational only. Life insurance is subject to underwriting approval. Guarantees are subject to the claims-paying ability of the issuing carrier. NOI does not provide tax, legal, or investment advice.