April Wrap-Up: How to Refresh Your Financial Strategy This Spring

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   As April comes to a close, it’s time to assess how your financial plans are shaping up for the year—and that includes your personal finance & life insurance strategies. If you haven’t already, now is the perfect time to refresh your financial plan, ensuring that it reflects your current life circumstances and long-term financial goals.

   
   

   In this blog post, we’ll look at how you can refresh your life insurance strategy this spring and set yourself up for financial success in the months ahead.

   
   

   1. Review & Refresh Your Credit Report

   
   

   Pull all 3 bureaus (Experian, Equifax, TransUnion) at AnnualCreditReport.com.

   Dispute inaccuracies like late payments, collections, or outdated accounts to boost your score.

   Apply for 0% intro APR credit cards if you qualify (score 670+ ideally).

   Transfer high-interest debt to reduce interest costs and accelerate payoff.

   
   

   2. Review Your Coverage Amount

   
   

   Over time, your life insurance needs may change. Take a look at your current coverage and ask yourself whether it’s still sufficient to meet your needs. Have you experienced any major life events, such as getting married, having children, or buying a home? These changes can significantly impact how much life insurance coverage you need. Ensure that your policy provides enough coverage to protect your loved ones.

   
   

   3. Update Your Beneficiaries

   
   

   Your beneficiary designations should be reviewed regularly to ensure that they reflect your current wishes. If you’ve experienced significant life changes such as divorce, remarriage, or the death of a loved one, it’s crucial to update your beneficiaries to ensure your policy reflects your current intentions. This simple update can prevent complications down the road and ensure that your loved ones receive the benefits you intend.

   
   

   4. Consider Adding Riders

   
   

   Adding riders to your life insurance policy can enhance your coverage and make it more tailored to your needs. Common riders include:

   • Critical Illness Rider: Provides a payout if you’re diagnosed with a life-threatening illness.

   • Waiver of Premium Rider: Waives premiums if you become disabled and are unable to work.

   • If you haven’t already, consider whether any of these riders might be beneficial to your situation.

   
   

   5. Explore New Policy Options

   
   

   Spring is a great time to explore new life insurance options. If your current policy no longer fits your needs, it may be time to consider a different type of policy. Whether you’re looking for term life, whole life, or universal life insurance, make sure you’re exploring all of your options to find the best fit.

   
   

   6. Shop Around for Better Rates

   
   

   Rates for life insurance can fluctuate, so it’s always worth shopping around to ensure you’re getting the best deal. Compare quotes from different insurers to find better rates or more comprehensive coverage. It’s also worth checking whether there are discounts or promotions available that can help reduce your premiums.