Insurance Reviews:
Stay Protected, Stay Prepared
Why Review Your Insurance?
Life changes, and so do your insurance needs. A biannual insurance review ensures your coverage keeps up with your evolving lifestyle, financial goals, and risks. Waiting until you need it is too late—stay ahead with regular checkups.
Key Benefits of an Insurance Review
#) Identify Coverage Gaps & Overlaps
Ensure you have enough protection for your home, health, life, and assets.
Avoid overpaying for unnecessary policies or missing essential coverage.
Optimize premiums and deductibles for the best value.
#) Flexible Retirement Planning
Convert to a Registered Retirement Income Fund (RRIF) by age 71 to start receiving income.
Withdraw anytime if needed (but withdrawals are taxed).
Start early or delay withdrawals depending on your financial goals.
#) Adjust for Life Changes
Marriage or Divorce?
Update beneficiaries and coverage amounts.
New Home or Mortgage?
Ensure your home and life insurance align with new financial responsibilities.
Growing Family?
Increase life insurance to secure your children’s future.
Starting a Business?
Protect your income, assets, and employees.
Retirement Planning?
Adjust coverage to match new income and risk levels.
#) Match Your Financial Goals
Evaluate assets, liabilities, and risks to determine the right amount of coverage.
Ensure you’re not underinsured or overpaying based on your income and debt.
Make sure your policies fit your current and future financial needs.
When Should You Review Your Insurance?
- At least twice a year for a routine checkup.
- After major life events like marriage, a new baby, or buying a home.
- If your income, debts, or financial goals change.
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