At Real Secrets of Money (RSOM), financial literacy means more than just budgeting, saving, and investing — it also means building financial protection that lasts your whole life. That’s why we observe Life Insurance Awareness Month (LIAM) each September. This year’s theme, Life Insurance Step by Step, has shown how easy it can be to approach life insurance with confidence.

We’ve explored the basics, choosing the right policy, and how the application process works. Now, we arrive at the final step: updating your coverage as life changes.

Life Changes — So Should Your Policy

Your financial life today is different than it was five years ago — and it will be different again five years from now. That’s why insurance shouldn’t be something you “set and forget.” Life events like finding a new job, saving for a child to go to college, or nearing retirement all shift your protection needs. Keep your financial protection plan as dynamic as your life.

Keep your financial protection plan as dynamic as your life.

 

When to Revisit Coverage

Consider a review whenever there’s a change in your:

• Family structure (marriage, divorce, or dependents).
• Debt load (new mortgage, loans, or business expenses).
• Financial goals (college funding, estate planning, or charitable giving).
• Career (increased earnings, job shifts, or retirement plans).

Reviews Are Financial Literacy in Action

A big part of financial literacy is adjusting as your situation evolves. Just as you rebalance investments or update your monthly budget, revisiting your life insurance ensures your protection stays aligned with your reality. It’s about making sure your safety net grows as often as your life does.

Not updating coverage can lead to gaps that leave your loved ones under-protected. A policy that fit five years ago may be leaving gaps today. Financial literacy means staying proactive instead of reactive — especially when it comes to protecting the wealth you’ve worked so hard to build.

A policy that fit five years ago may be leaving gaps today.

Make Reviews Part of Your Routine

Think of reviewing your policy as a regular financial habit. Just like setting aside time each year to look at your taxes or retirement savings, scheduling a life insurance check-up helps keep your financial plan comprehensive and secure.

LIAM 2025 has been about breaking the process into steps anyone can follow. The final step is a reminder that life insurance isn’t static — it evolves with your life. Updating your coverage ensures your plan is always current, always strong, and always part of a complete financial literacy journey.