Spring is in the air! This beautiful season has always been synonymous with renewal and fresh beginnings so it’s considered the perfect time to deep clean your house. It’s also an ideal time to review your life insurance policy to ensure it’s still up to date and aligned with your future goals.

Why Spring Is the Perfect Time For A Policy Review

Much like the seasons, life is always changing so you’ll want to ensure your life insurance policy is keeping up. First up, check that all your basic information, like your address and contact details are up to date. Next, consider your coverage amount. If you had to pass away tomorrow, would it still be the right amount to meet your goals?

If you have an life insurance policy with MiWayLife, you’ll be glad to know you can increase or decrease your coverage amount at any point. We also realise that sometimes life throws us unexpected curve balls. If, for whatever reason, you suddenly found yourself in a position where you couldn’t afford to pay your premium, you have the option to lower your coverage amount, which will lower your premium. This way, your policy will remain active and you can always increase your coverage amount when you’re no longer in a financially tricky spot.

More Reasons To Review Your Life Insurance Policy

Spring is a great season to relook your life insurance policy, but there are certain events that should inspire an instant change and here are just a few of them.

Big life events
Getting married, having children, getting a divorce or suffering the loss of a loved one should always prompt a review. These milestones often alter your financial responsibilities and the beneficiaries you wish to choose.

Financial changes
If you’ve recently received that big promotion and increased your income (congratulations!), it might be time to reassess your coverage. Higher earnings often lead to increased financial obligations and your life insurance should reflect this change to ensure your family can maintain their lifestyle in your absence.

Health changes
Your health status can affect your life insurance premiums. If you’ve made any positive lifestyle changes, such as quitting smoking or managing a chronic illness, you might qualify for lower premiums. If your health has declined, it’s important to review your coverage to ensure it meets your needs.

The Bottom Line

As we get ready to embrace the joys of spring, take a moment to reflect on your life insurance policy. This season of renewal isn’t just about cleaning out your closet, it's also about securing your family's future. Don’t have a life insurance policy? We think it's time to get a quick quote from MiWayLife.

Did you know:

You can now take out life cover with us online in a few simple steps. No calls and no agents! Make sure to take care of those you love today by buying MiWayLife cover online.