With many aspects of your financial life, there’s a certain amount of “set it and forget it.” In some cases it works out well, such as setting a contribution to a retirement account or establishing a savings plan that auto-transfers money from your checking account to a savings account. In other cases, it’s important to take a look at those plans every year to make sure they still make sense for your situation.
Insurance policies fit into that category and it’s important to take stock and review your insurance policies each year. A lot can change in a year and unless you take some time to review your policies, you may be surprised when it comes time to use them.
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