You bought a face amount, a term length, a beneficiary line, and — if it came through work — a group certificate that follows the job. An annual review asks whether those pieces still do the job they were bought to do.
The household moved. The form may not have.
People marry, divorce, have children, lose parents, change jobs, take on a mortgage, or pay one off. The 2026 Insurance Barometer Study, LIMRA and Life Happens, found that 54% of consumers say their family would rely on life insurance if a primary wage earner passed away unexpectedly — and 47% would have trouble paying living expenses within six months.
That is a population picture. Your review is personal: who is on the policy, what the death benefit would actually replace, and whether workplace coverage is the only layer.
Ownership is not the same as enough
52% of American adults have some life insurance. 38% — about 92 million adults — say they need coverage or need more. Even among owners, 18% say they do not have enough (2026 Insurance Barometer Study, LIMRA and Life Happens).
A review is how you test the policy you have against the need you have this year. It is not a verdict that you must apply.
Workplace-only coverage is common — and easy to over-trust
47% of owners have coverage through the workplace. 27% of insured Americans have workplace life insurance and no individual coverage (2026 LIMRA Workplace Benefits fact sheet). 32% of owners say they have coverage because the employer provides it.
Group life is real coverage. It is also usually tied to employment. A review asks what remains if the job ends, and whether the amount was ever meant to be the whole plan.
Cost guesses are not a review
Adults under 31 overestimate the true cost of a $250,000 20-year term policy by about five to six times. Roughly three-quarters of consumers overestimate cost; 46% admit the estimate is a gut feeling or a wild guess (2026 Insurance Barometer Study, LIMRA and Life Happens).
A quote engine feeds that guess. A review starts with the policy in force and the facts a carrier would evaluate if you ever applied again.
A confidential 15-minute annual review with Gregory M. Sloan, CLU®, ChFC®, Licensed Insurance Representative. Not an application. Not a quote engine.
A 15-minute annual review is the place to line up the policy, the household, and the file — before anyone submits an application.
Call 800.365.TERM (800-365-8376)
Information only. This page is not tax, legal, or investment advice.