Changing policy terms (for permanent policies)

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Example: You purchased a large policy when you had high financial obligations. Over time, your children have grown up and become independent, the mortgage has been paid off, and you have accumulated significant assets. Now you are paying for coverage that far exceeds the actual needs of your dependents.

The consequence: You overpay significant amounts in premiums that country wise email marketing list could be used for investments, retirement savings, or other financial goals. This is an inefficient use of your money.


Example: You originally named your parents or ex-spouse as beneficiaries. Over time, you got married and had children. If you don't update the beneficiaries, your insurance benefits may go to the wrong people or legal disputes may arise.
Consequence: Funds intended for your family may be frozen or transferred to unwanted persons.