Cornerstone Agency Services has merged with Union Bay Risk Advisors. Same exceptional service with a broader range of insurance choices!
Union Bay - Cornerstone Co-Branded Logo-fotor

How Life Events Affect Your Life Insurance Needs.

A crucial aspect of financial planning is purchasing life insurance, but it requires ongoing attention rather than a one-time purchase. As your life evolves, so do your life insurance needs. Whether it's a marriage, a new baby, or a new home, each significant life event can alter the amount of coverage you require. Here are some events that prompt you to review and possibly adjust your life insurance policy.

1. Marriage

When you get married, you begin sharing your life and financial responsibilities with another person. Life insurance can ensure that your spouse is financially responsible if something happens to you. This is a crucial time to review your beneficiaries and coverage amount to ensure it aligns with your new joint needs.

2. Buying a Home

Purchasing a home is one of the most considerable financial obligations you will take on. Life insurance can cover mortgage payments, ensuring your family can maintain their home without financial strain in your absence. Consider increasing your coverage to match your mortgage amount.

3. Birth or Adoption of a Child

The addition of a child to your family means additional financial responsibilities, from childcare costs to future education expenses. Updating your life insurance policy can provide the necessary funds to support your child's upbringing and education should you not be there to do so.

4. Changing Jobs or Salary Increases

A change in employment or a significant salary increase might alter your financial landscape. More life insurance may be needed to match your family's current standard of living and provide for their future without your income.

5. Starting a Business

If you launch a business, life insurance can protect your loved ones against debt associated with the venture and supply capital to maintain operations in your absence. It's imperative that you take this action to safeguard your business partners and your family. 

6. Taking on Debt

A review of your life insurance coverage should be prompted by any rise in your financial liabilities, including credit card debt, personal loans, and company loans. This ensures that debts are not passed on to your loved ones.

7. Health Changes

Significant changes in your health might impact your life insurance needs and costs. Review your policy as you might need more coverage or may want to lock in rates before any potential issues arise.

If you've experienced any of these life events and have yet to review your life insurance, now is the time. Contact us to discuss your current policy and see if adjustments are necessary to align it with your life today. Remember, life insurance isn't just for you—it's for the future of your loved ones. Make sure it grows along with your life.

Contact Us To Know More

Name(Required)
"By submitting my phone number, I hereby authorize Cornerstone Agency Services, LLC to communicate with me through text messaging."
Consent - Cornerstone Agency Services, LLC Privacy Statement:(Required)
This field is for validation purposes and should be left unchanged.

Is Renters Insurance Worth It?

You've probably heard about renters insurance if you're renting an apartment or house. Maybe your landlord mentioned it, or you've seen ads online. But is it really worth the cost? Let's break it down and see how renters insurance can protect you, your stuff, and even your wallet. What Is Renters Insurance? Renters insurance is […]

Read More

Is Renters Insurance Worth It?

You've probably heard about renters insurance if you're renting an apartment or house. Maybe your landlord mentioned it, or you've seen ads online. But is it really worth the cost? Let's break it down and see how renters insurance can protect you, your stuff, and even your wallet. What Is Renters Insurance? Renters insurance is […]

Read More

Term vs. Whole Life Insurance: Which One Is Right for You?

Picking the right life insurance policy can feel overwhelming. With so many options out there, it’s easy to get lost in the jargon. However, understanding the basics of term and whole life insurance is important for ensuring your loved ones are financially secure. Let’s break it down in a way that’s easy to digest. What […]

Read More
We extend coverage to individuals and businesses in 
Pennsylvania, New Jersey, and Florida.
Toll Free - (888) 499-2762

Direct to Branch Offices:
Lancaster, PA (717) 898-5982
Moorestown, NJ (856) 499-5191
Elkins Park, PA (215) 298-9398
Philly, PA (267) 678-1705
Tampa, FL (813) 330-5707
Mt Pleasant Mills, PA (570) 539–2758
Garnet Valley, PA (484) 301-3292
Altoona, PA (814) 979-1480
Ebensburg, PA (814) 615-7992
© 2024 Cornerstone Agency Services, LLC Designed by Amplispot
Privacy Policy
Get Quality and Affordable Insurance
Get QuoteContact Us
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram Skip to content