Most consumers don't wake up one morning and decide that they need a life insurance policy. While we believe that almost everyone needs life insurance, it's been found that major life events are often the catalyst for either purchasing a policy or updating coverage.
A study by LIMRA several years ago confirmed that 41 percent of recent life insurance purchasers were motivated by a major life event. Among those who wanted to review, increase, or update coverage, about half actually shopped for life insurance. Here are just a few major life events that could impact your need to review or purchase a life insurance policy.