Here’s how to avoid issues with your insurance:
- Ask Questions: If you are unsure about any aspect of your policy or coverage, don’t hesitate to ask your broker.
- Understand Your Policy: Don’t just file it away. Read through your policy documents to understand what is covered, type of coverage you have, what is excluded, and the claims process.
- Regular Reviews: Life changes—marriage, new children, a new home, refinancing your mortgage or loan, career shifts—all impact your insurance needs. Schedule annual reviews with your broker to ensure your coverage aligns with your current life stage. Organize your insurance in an easily accessible format e.g. YISF-Your Insurance Summary Form
- Keep Information Updated: Inform your insurance broker of any significant changes in your life, such as a new address, a new banking information, change of beneficiary or trustee.
- Know Your Beneficiaries and Trustees: For life insurance, regularly confirm that your beneficiaries and trustees are up-to-date. This is crucial after life events like divorce, marriage, or the birth of a child.
- Honesty is the Best Policy: Provide accurate and complete information when applying for or renewing policies. Misrepresentation can lead to claim denials.
Proactive management of your insurance ensures that when you need it most, it works as intended, providing the protection and peace of mind you expect.
Contact us for more information and to schedule ZOOMwithMario insurance and options review.
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