When should a financial planner recommend a client to review their insurance policy?

Reviewing a client’s insurance policy is crucial during significant life changes since these events can impact their financial needs and insurance coverage requirements. Major life events, such as marriage, the birth of a child, career changes, or retirement, often alter a client's responsibilities, income levels, and overall financial situation. As such, these changes might necessitate adjustments to their insurance policies to ensure that coverage aligns with current circumstances, such as increased life insurance needs due to dependents or adjustments to health insurance during retirement.

Regular reviews in light of life events allow a financial planner to assess whether an existing policy still meets the client’s needs or if new insurance options would provide better protection. This proactive approach ensures that clients remain safeguarded against potential risks as their lives evolve.