The Planning Corner: When to Revisit Your Life Insurance Coverage
Sep 15 2026 | Back to Blog List
VIDEO TRANSCRIPT:
David Ernst: I'm David Ernst, partner at Cedar Point Capital Partners, here with our director of financial planning, Nick Timm. Today we're talking about something that people buy once and never revisit: life insurance.
Throughout my career, I've seen this pattern often where someone in their early 30s will buy a life insurance policy and never revisit it. Why is that, Nick?
Nick Timm: Yeah, I think we just don't really want to think about dying and that decision feels final. You know, you pick an amount, you sign the paperwork, and life just continues on.
David: I've sat with many couples where an ex-spouse may still be a beneficiary or coverage was taken out when their kids were toddlers and now they're in college.
Nick: Yeah, that's really what the gap is. You took it out for a specific reason like income replacement or to protect a mortgage and those goals change. And we're fee-only, so we're really concerned about the fit, not about making the sale.
David: So, where should someone start?
Nick: Yeah, pull that policy and look for three things. Look for the coverage amount, check the beneficiaries, and if it's term or permanent. If it ends up being what's called a universal life, request an in-force illustration from the carrier, which would essentially tell you that the coverage is going to be in force as long as what you plan.
David: If you haven't looked at your life insurance coverage in years, that may be reason enough. If you'd like help fitting life insurance into your overall financial plan, learn more and connect with us at cedarpointcap.com.
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