How often should you reassess your life insurance coverage for financial changes?

The answer is: it really depends on your life situation! However, as a standard rule, you should review your life insurance coverage after every major life event that affects your health, wealth or family. Significant life events that indicate the need to review coverage are marriage or divorce, new dependents, new medical conditions, disability, new liabilities, loss of income, windfall gains, etc. Some more prudent individuals prefer reviewing their life insurance coverage annually.