Growing Family needs updation in Life Insurance Policymply taking the policies are not enough, one needs to make sure that the cover or the sum assured amount is sufficient to serve the purpose.
A lot of people think that once the life insurance policy is taken they can “Buy it and forget it”. But this practice does not address their future insurance needs. As we review the investment portfolio on a half-yearly or yearly basis, insurance policies should also be reviewed on regular intervals or on happening of an event, to make sure that the insurance cover taken initially 5 years or 10 years ago is sufficient or the same need to be realigned. Below are the events where one needs to review the Life Insurance Policy.