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The Cycle of Life Insurance

 5 minute read

mother playing with son

​There are many stages in our lives and each one gives new and different adventures. As your life shifts and changes, so will your financial needs, and that includes insurance.  

Over the years, it is likely that your insurance papers have been buried in a desk drawer and the payments automatically withdraw from your account each month. Once we set up our policies, updating them rarely makes its way to our to-do lists. The question is: when was the last time you reviewed your policy? 

Life tends to rearrange itself, change constantly. It can bring new surprises that can change the coverage you need. It also ensures that if a tragedy should occur, you or those in your life are well taken care of.  

The bottom line is that life insurance is to protect those that depend on you, prepare for the unexpected and safeguard your future. Consider these life stages and how your insurance needs may change:  

Life changes constantly  

It is important to buy insurance for your budget, needs, and to revaluate when things change. You and your life have changed over the years. Those who depend on you will grow and when that happens, you want to make sure you have the proper coverage.  

Life changes out of the blue, and you are never too young to invest in your future and to set up those you love for the long term. Review and re-evaluate your policies in each life stage. Be sure to talk to one our Life Insurance Advisors and your Financial Advisor about your insurance needs during every stage of life!  

Island Savings Wealth Management is a division of FW Wealth Management Ltd. which is a wholly owned subsidiary of First West Credit Union. 

FW Wealth Management Ltd. is a licensed life insurance agency offering financial planning, life insurance and investments. All insurance products are subject to the limitations, terms and conditions in the applicable policy or insurance contract in force at the time of purchase or enrollment and applicable legislation. The products sold through FW Wealth Management Ltd. are not guaranteed or insured by a deposit insurer.

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