Eric Torres

Regular financial plan reviews help match life insurance to changing needs by revisiting three core areas: income, expenses, and savings before updating coverage.
A shift in income is a clear signal for reevaluation, since higher earnings can mean more coverage is needed to replace family income.
Growing families can bring new costs, including education and daily needs, while some clients may still support adult children who are not financially independent.
A protection-first review checks whether coverage still supports expenses; if income and savings capacity grow, part of term coverage may convert into permanent insurance.
The goal is keeping life insurance aligned with a client’s financial plan, so policy choices reflect evolving needs instead of driving planning decisions.

Life Insurance Should Evolve with Your Needs

The annual enrollment window runs October 15 through December 7, giving US beneficiaries time to review, change, or tailor coverage for the upcoming year.
For 2026, Part D out-of-pocket costs are capped at $2.1K, with ~$2.4K estimated for 2027; Medicare Advantage annual maximums can reach $9.25K.
In Late-Q3, watch for the annual notice explaining cost, benefit, network, or plan availability changes before making US coverage decisions for the coming year.
When comparing options, match coverage to your doctors, prescriptions, pharmacies, travel or relocation plans, and likely care needs instead of assuming plans work the same.
People already in Medicare Advantage also get January 1 through March 31 to switch plans or return to original Medicare, and free counseling is available.