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Here is a BIG QUESTION for you. Your Life Has Changed Over the Past Year; But Has Your Insurance Kept Up?

I.I.I. Recommends an Annual Review of Insurance Needs; Top 10 Questions to Ask Yourself

NEW YORK, January 27, 2006-Major purchases and lifestyle changes such as marriage, divorce or retirement can have a profound effect on your insurance, according to the Insurance Information Institute (I.I.I.).

?To make the most of your insurance dollars, it is very important that you let your insurance agent or company representative know about alterations to your home and other major events in your life,? says Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I. ?A great way to start the new year off on a firm financial footing is to discuss your current insurance needs with your agent, broker or company representative to make sure that it is up-to-date.?

A recent national survey* found that least 32 million U.S. households own insurance policies that aren?t right for them-is yours one of those households?

The I.I.I. recommends asking the following ten questions:

1. Have you gotten married or divorced?

If you have gotten married, you may qualify for a discount on your auto insurance. Couples may well bring two cars into the relationship and two insurance companies, so take the opportunity to review your existing coverage and see which company offers the best combination of price and service.

If you are merging two households, you may need to update your homeowners insurance. And you may want to consider increasing your insurance for any new valuables received as wedding gifts, and for jewelry such as wedding and engagement rings.

After getting married, it is also important to review your life insurance needs. Becoming a couple means sharing responsibility with and for someone else; life insurance is an excellent way to ensure that the surviving spouse is taken care of in the event of the premature death of the other spouse.

If you got divorced, you will probably no longer be sharing a car and may move to a smaller home-you should inform your insurer as this will mean setting up separate auto and homeowners policies.

2. Have you had a baby?

If you?ve recently added a child to your family (by birth or adoption), it is important to review your life insurance protection-a third of those families with a new baby, or 5 million households, haven?t updated their life insurance protection.

If you?re planning for your life insurance to match your survivors? expenses after your death, the new child will likely add to those expenses-requiring more life insurance to keep them secure. If you plan to save for your child?s college education, life insurance can assure completion of that plan. Don?t forget to update the beneficiary designations on your life insurance to include the new child.

To find out what the other questions are that you should ask yourself, please read the complete article just be clicking on the link.

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