Have you recently married (or will you be married in the near future)?

You planned the perfect wedding, you had a memorable honeymoon, and now you are ready to start your life together. If you rely on your spouse/significant other to help contribute financially, or if your spouse fully relies on you, then you should be able to answer the following questions.

• If you are a one-income family, how easily could you or your spouse/significant other find a job if needed? How marketable is your spouse now, after being out of the workforce?
• If yours is a two-income household, how long could you or your spouse/significant other maintain the lifestyle you have created on just one income?
• How long would your savings last if there was a job loss or a death?
• What is your current debt (home, cars, credit cards, etc.)? How would it be paid in the event of unemployment, disability, or death?
• Many individuals and couples view their home as their most valuable asset, but give little thought to their long-term ability to pay for it. If you were suddenly disabled, how would you pay your mortgage?
• What would have to be sold (your home, cars, valuables, etc.) in order to pay the bills (immediate and future) in the event of loss of income? What if you could not sell your home, but you needed to?
• How would an unexpected death affect your retirement?

Have you recently divorced?

• If you have coverage, do you need to change beneficiaries?
• Do you still need the amount of coverage you currently have?

You want your children to have every opportunity possible, and life insurance will make sure that those opportunities are there, even if you are not.

Have you recently added a member to your family, or will you be in the near future?

• Are your children's futures secure even if you are not there to provide for them?
• Would your children need child care if something happened to you?
• Would your children have to move or go to another school if you could no longer afford the lifestyle you and your spouse have created?
• How would your children's college tuition be paid if you were not there?
• Have you planned for their college educations? Life insurance can provide a self-completing college plan for every child in your household.

Have you recently changed jobs, or will there be a change soon?

• Has your salary increased? decreased?
• What benefits will your employer offer?
• If you have ownership or partial ownership in the company, do you need business/key person coverage?

Have you recently been laid off (or anticipate a future layoff)?

• Can you still afford the monthly, quarterly, semiannual, or annual payments that will keep your coverage in enforce?
• What benefits did you have at work that you are now (or will soon be) without?

Have you recently moved or sold your home?

• Has your mortgage increased or decreased? Your coverage should be adjusted accordingly.
• If you sold your home, what are you going to do (or what have you already done) with the net gain from the sale? (You could supplement your retirement.)

Have you recently refinanced your home or taken out an equity line of credit?

• Is your life insurance structured to eliminate or account for the line of credit?
• What is your retirement situation looking like? Now is a great time to consider all of your options.
• If you are refinancing to restructure debt, have you incorporated that liability into your life insurance plan?

Has your son or daughter recently become a high schooler?

This is an exciting time for the entire family, and as your children grow up, your financial responsibilities may also grow. Here are some things you will want to consider:

• If something happened to you today, how would it change your child's plans for college? Is there a college plan in place?
• What is included in your estate, and are your assets protected?

Has a child recently graduated?

• Are your financial responsibilities still the same now that your child (or children, or grandchildren) is out of school?
• Now that your child has graduated, is he or she covered? Your adult child (children, grandchildren) may have student debt, credit card debt, or even a mortgage. Who will your son's or daughter's assets be left to if something happens to your child? Remember, the younger you are, the more inexpensive the plan will be!

Have you recently started a new business?

• Do you have partners in the business?
• If something should happen to a partner, who would take that partner's place? Would the business income suffer?
• If a partner should die and leave the business interest to his or her spouse, would you want to work with that spouse? Would he or she want to work with you? If the answer to either question is no, would you have the liquid funds to buy out that individual?
• Do you have a buy/sell agreement, and is it funded?
• Is there a perpetuation plan in place should something happen to you?
• Have you thought about coverage on your key employees and considered the ramifications of not having it?
• How do you plan to attract and retain employees?
• Would your business survive the death of the owner(s) so that the employees would still have jobs?

Have you recently sold or closed your business?

• Do you have a buy/sell agreement? If so, how is it funded? Life insurance is the most affordable way to fund an agreement.
• What is the arrangement between you and the person or entity buying your business? What if something happens to the buyer in the middle of the buyout?

Has something recently happened that has set you back financially?

• Do you know how long the financial setback may last?
• If you have life insurance, does the amount of coverage need to be increased? decreased?
• Are flexible payments intriguing to you?

Do you have a life insurance policy that has not been reviewed in a year of more?

Many things can happen over the course of a year or two. Chances are that you have experienced one or more of the events listed above. At CFG we make it a point to follow up with you on an annual basis just to make sure that everything that has changed in your life is accounted for.

• Did you select one or more of the above events?
• Has your health changed at all (for better or worse)?
• Have you taken up a new hobby (flying airplanes, rock climbing, or any other hazardous sport)?
• Have you started traveling internationally since the last time you applied for life insurance? (If something were to happen to you in another country, you may or may not be covered under the provisions of your current policy.)
• If you bought term to invest the difference, where are you investing?
• If you have a universal life policy, how is it performing? (Newer plans can offer guarantees—make sure you are not putting good money into a bad product.)