Change
Indicator

More
Insurance

Less
Insurance

Estate Size

An increased need for estate liquidity due to higher estate taxes or growth of the estate could point toward the need for more coverage.

Reduced need for estate liquidity due to lower estate taxes or a decline in estate value could suggest that less coverage is appropriate.

Business

Starting, acquiring or expanding a business will often signify the need for additional coverage for buy-sell or key person purposes.

Retirement or selling or terminating a business could mean that business insurance policies or fringe benefit policies paid for by the business may no longer be needed or affordable.

Family

A change in family situation like marriage or children might indicate the need for more coverage.

Divorce or the death of a spouse or other beneficiary might be a sign that some existing coverage is no longer needed.

Assets

Acquiring a house or other major asset could produce a need for creditor protection insurance.

Sale of illiquid assets could reduce the need for policies purchased for estate liquidity or creditor protection.

Overall Finances

Improved finances from a new job, business growth, or an inheritance could provide the means to afford more coverage as well as an increased need.

Declining finances like business or investment setbacks or the loss of a job could make some policies unneeded and unaffordable.

Policy Performance

Policies not performing as planned might signify that new, replacement coverage should be considered.

Policies not performing as planned might imply that they are no longer affordable or desirable.

Term Insurance

Term insurance reaching the end of its conversion period or level premium guarantee period signifies it's time to consider conversion or acquiring new coverage.

Term insurance reaching the end of the premium guarantee period may mean the policy has reached the end of its intended purpose or that continuing or converting the coverage may no longer be affordable.