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Critical Life Events That Require You to Re-Evaluate Your Life Insurance

Certain life events can have a significant impact on your life insurance needs. If any of these happen to you in Middletown, NY and surrounding areas, it’s essential to sit down with your agent at EverGreen Insurance Agency and re-evaluate your coverage. 

Critical Life Events Impacting Your Life Insurance 

1. Getting married

When you tie the knot, your financial situation changes drastically. You now have another person to think about financially, and you may also combine your incomes and debts. This all influences how much life insurance you need.

2. Having a baby

Becoming a parent is a tremendous responsibility, both emotionally and financially. If you’re the family’s breadwinner, your death would have a significant financial impact on your spouse and child. As a result, you may need to increase your life insurance coverage. Your EverGreen Insurance Agency representative can help you determine the right amount of coverage for your family.

3. Buying a home

A mortgage is probably the most significant debt you’ll ever take on, so it’s essential to have adequate life insurance in place if something happens to you and your family can’t keep up with the payments.

4. Sending a child to college

College is a major expense, and if something happens to you before your child graduates, you want to make sure there’s enough money to cover the cost. Life insurance can help make that happen.

5. Starting a business

If you’re self-employed or own a small business, your family would be financially impacted if you were to die. That’s why it’s crucial to have life insurance to protect them.

6. Getting divorced

If you’re going through a divorce, you may need to adjust your life insurance coverage. For example, if you have a joint policy with your ex-spouse, you’ll want to change the beneficiaries to avoid any confusion down the road.

These are just a few life events that can impact your life insurance needs. If any of these happen to you, sit down with your EverGreen Insurance Agency and re-evaluate your coverage in Middletown, NY.