Naming the wrong beneficiary is one of the most damaging life insurance mistakes—and one of the easiest to overlook. Even when the right amount and type of coverage are in place, beneficiary errors can cause proceeds to be paid to the wrong person, delayed for months or years, or distributed in ways that contradict the … Read more
Relying solely on employer-provided life insurance is a common but serious mistake. While workplace coverage is convenient and often low-cost, it is rarely sufficient on its own and comes with limitations that can leave families exposed. Employer-provided life insurance is best viewed as a supplement—not a replacement—for personally owned coverage. Employment-based coverage is temporary by … Read more
Buying too little life insurance coverage is one of the most common and dangerous life insurance mistakes. While having some coverage is better than none, insufficient coverage can leave loved ones financially exposed at the moment protection is needed most. Underinsurance often creates a false sense of security—one that only becomes apparent after a loss … Read more
Waiting too long to buy life insurance is one of the most common and costly mistakes people make. Many assume they will purchase coverage later, once income increases, debts grow, or family responsibilities become clearer. Unfortunately, delaying life insurance often results in higher costs, fewer options, and increased risk of being uninsurable altogether. Life insurance … Read more
Deciding whether to cancel, reduce, or keep life insurance coverage is one of the most important insurance decisions a policyholder can make. Each option carries different risks, benefits, and long-term consequences. Making the right choice requires a structured review of financial needs, health, and future uncertainty—not a reaction to premiums or short-term changes. The correct … Read more
Canceling or changing a life insurance policy is a decision with long-term consequences, yet it is often made quickly or without full understanding. Many costly mistakes stem from assumptions, incomplete reviews, or pressure to reduce expenses. Understanding the most common mistakes helps ensure policy changes strengthen financial security rather than undermine it. Insurance decisions should … Read more
Canceling life insurance is often viewed as the only solution when coverage feels unnecessary or premiums become uncomfortable. In reality, cancellation is just one option—and often not the best one. Many life insurance policies offer alternatives that preserve protection, flexibility, or long-term value while addressing the reasons someone is considering cancelation. Exploring alternatives can reduce … Read more
Paying off major debts is a significant financial milestone and often prompts a review of life insurance coverage. Mortgages, student loans, auto loans, and business debts are common reasons people purchase life insurance in the first place. When those obligations are eliminated, it may seem logical to cancel coverage. However, canceling life insurance after paying … Read more
Health changes play a major role in decisions about canceling or changing life insurance. While premiums and coverage needs often drive these decisions, health status can quietly determine whether future options remain available at all. Understanding how health affects cancelation and modification decisions helps prevent irreversible mistakes and protects long-term insurability. Health should always be … Read more
Retirement marks a major shift in financial life, and life insurance should be reviewed as part of that transition. While income replacement during working years is often the primary focus earlier in life, retirement introduces new priorities such as spousal support, asset preservation, healthcare planning, and estate goals. Changing life insurance after retirement helps ensure … Read more