- Adapting to Life Changes: Major life events like marriage, having children, or buying a home can significantly impact your insurance needs. Regular reviews ensure your coverage aligns with your current life stage.
- Ensuring Adequate Coverage: Over time, your assets and liabilities change eg. car, house. Reviewing your policies helps you avoid being underinsured, protecting your current assets effectively.
- Finding Better Rates: The insurance market is competitive, with frequent changes in rates and products. A review can uncover better rates or more suitable coverage options, saving you money.
- Eliminating Redundancies: Life changes can make some policies redundant. Regular reviews help you identify and remove unnecessary coverage, simplifying your portfolio and reducing premiums.
- Staying Informed: Insurance companies update their policy terms periodically. A review ensures you are aware of these changes, preventing surprises during claims.
- Enhancing Financial Planning: Integrating your insurance strategy with your overall financial goals ensures comprehensive financial protection and well-being.
In summary, an annual review of your insurance policies, or after major life events, keeps your coverage relevant and cost-effective. Schedule a review today to safeguard your financial future.
Talk to FAA today call 5451 0022 or make an online enquiry here. For more tips subscribe to our emailing list or follow us on facebook @Financial Advisers Australia.
“Got any questions? The FAA Team are here to help!”
John Hehir
Disclaimer:
The information provided in this blog is general in nature and does not take into account your individual objectives, financial situation or needs. It is not intended to be personal financial, legal, taxation, or investment advice. Before making any decisions, we recommend seeking advice from a licensed financial adviser who understands your specific circumstances. While every effort is made to ensure the information is accurate at the time of publication, Financial Advisers Australia makes no guarantees and accepts no responsibility for any loss arising from reliance on this content.
