Direct answer
It depends on whether your existing death benefit is sufficient to cover rising educational costs and childcare expenses, as these financial obligations often increase annually. You should review your coverage if your household income or debt level has shifted significantly since the last academic cycle.
Financial planning guidelines provided by the National Association of Insurance Commissioners regarding periodic life insurance policy reviews. For additional information about policy maintenance, see the National Association of Insurance Commissioners‘ guidance on life insurance.
What this means for you
It depends on whether your existing death benefit is sufficient to cover rising educational costs and childcare expenses, as these financial obligations often increase annually. You should review your coverage if your household income or debt level has shifted significantly since the last academic cycle.
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