Cover drifts out of date quietly. Once a year, work through this list.
Cover adequacy
- Has your income changed materially since the policy was bought?
- Have you taken on a new loan or given a personal guarantee?
- Has a child, spouse or dependent parent been added to the household?
Policy hygiene
- Are all premiums paid and no policy in lapse?
- Is the nominee on every policy still correct?
- Are contact details and bank details current with each insurer?
- Does your family know which policies exist and where the documents are?
Health cover specifics
- Has the sum insured kept pace with medical inflation?
- Have any waiting periods now completed?
- Is a super top-up worth adding this year?
Business cover
- Are sums insured still at reinstatement value?
- Has headcount or turnover changed enough to affect liability cover?