3 life insurance moves policyholders should make before 2027
Summary
The article recommends that life insurance policyholders review their coverage before 2027 to ensure it still fits their finances and goals. It advises reassessing coverage amounts, considering whether term or whole life insurance is more suitable, and comparing providers using quotes for equivalent policies.Key Facts
- Inflation, higher borrowing costs, and rising everyday expenses may affect how much life insurance coverage a household needs.
- Policyholders should reassess whether their current coverage amount can meet their family’s expenses and debts.
- The article suggests considering whether term life or whole life insurance better fits a policyholder’s current needs.
- Whole life insurance includes a cash component that can build over time.
- Policyholders can compare offers through online marketplaces and by getting quotes from multiple providers.
- For a fair comparison, quotes should use the same policy type, coverage amount, and terms.
- The article urges readers to begin reviewing their policies and shopping for providers before 2027.
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