Insurance answer
When do I review my insurance cover?
Insurance may be worth reviewing regularly and when life changes, such as marriage, buying a home, having children, changing occupation or paying off a mortgage.
Answer
A review is not automatically a reason to buy more, cancel or switch. It is a chance to check whether the current cover still matches the question it was meant to answer.
Life changes can change the question
Big household, income, debt or work changes can make old assumptions worth checking.
Bring documents to the review
Useful documents include the policy schedule, renewal notice, premium changes, exclusions, adviser notes and any claim history.
What to check next
- Cover type and amount depend on personal circumstances.
- An appropriately authorised process is needed before recommending changes.
- Policy documents remain the source for actual cover.
Sources for this answer
Public information is explained in plain English, with links back to the official or public sources used for this answer.
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