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The Alemian File: Reviewing Life Insurance Needs Could Save You Money

By David Alemian

It generally doesn’t take much time to review a life insurance policy or your life insurance needs. A review of your life insurance policy or life insurance needs should be done whenever you have a life event. Life events are major events in our lives such as getting married, buying a home, having children, or starting a new job. Life events are not one-day events, and generally occur over a period of months. For example, it usually takes a period of months to buy a home, and we all know it takes at least nine months to have a baby. At some point during these life event periods, most people stop and think about the financial well-being of their dependants. When that moment occurs, it’s time to review one’s life insurance needs.

There are several ways to review your life insurance needs. One way to review your needs is to multiply your income by your remaining working years and then add five years of income to that number. A more thorough way to review your needs is with this easy to use online calculator.

If it’s been more than 10 years since you’ve reviewed your policies, you definitely want to review them now. If you’re like most people, you’ll likely discover that you’re underinsured and you’ll also likely discover that life insurance rates have come down in recent years.

A quick review of your life insurance policy may also save you money in the long run. You just might find that you can get a lower cost policy. You may also find that your old term policy is going to run out in a few years and getting a new policy now could cost you a lot less in the long run.

Finally, over the last 10 years or so, there have been some major changes in the life insurance business. One big change has been the introduction and development of life insurance living benefit riders. Simply put, it’s life insurance that you don’t have to die to use. I’ll cover this next week in the Alemian File. If you like this article, please visit and “like” The Alemian File Facebook page.


About David Alemian

Successfully creating affordable retirement plans guaranteed to last a lifetime is a unique, specialty skill. It’s a challenging arena but respected writer David Alemian makes it look easy. Alemian is a leading retirement expert and nationally recognized authority whose expertise is shared via video columns, numerous journals, and talk-shows.

His national recognition results from both revolutionizing and revitalizing how organizations and individuals like you and me plan and save for retirement. Alemian is considered “The Go-To Guy” for creating and implementing absolutely irresistible, lifetime retirement pension programs.

Formerly the host of “It’s About Money” Radio Show, Alemian has also produced and is featured in over 200 financial education videos. Additional content can be found in many well-respected, publications including: MD Magazine, Physician’s Money Digest, Physicians Practice, Journal of Clinical Oncology, Consultant Live, Psychiatric Times, Cancer Network, OB/GYN.net, and The Healthcare Executives Network.


This article reflects the thoughts and opinions of the author and is being provided for educational and informational purposes only. It should not be considered financial or tax advice. Please consult your financial or tax advisor about your situation.

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