Should your insurance coverage change as your income, family, assets, or lifestyle changes? How often should you review your policies to make sure they still fit your needs?

U could review whenever there’s a major life change — marriage, a child, buying a property, a change in income or taking on new dependants — and do a basic annual check. Besides coverage amounts, check premiums, policy expiry dates, exclusions and beneficiary nominations. Keeping a single summary of all policies across insurers also makes reviews easier, rather than relying on separate insurer apps. The goal is to check whether your protection still matches your current responsibilities, not simply to buy more coverage.

Yes

Yearly, especially if you have a lot of changes in that year.

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I am not an insurance agent or financial planner but do it myself and that is also what I do.

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A new child in the family, what is it i have to provide for him if i pass away now, and he needs to have money up till he finish Uni? How will it impact my spouse? One helper for the next 12 years? With all these, your can know what is your gap shortfall and adjust the expense or gap.

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The review also means whether that policy has competing policies that you can seitch over.

Definitely. Life changes fast, so I’d review my insurance at least once a year or whenever there’s a big change like a new job, home, or major pay raise.