← Back to Education CenterThe theory of decreasing responsibility
How Coverage Needs Change
The amount of income protection a household needs may be highest when responsibilities are high and assets are still being built. Over time, those responsibilities can change.
01
Earlier years
Young children, a mortgage, consumer debt, and years of future income can create a large financial gap if a breadwinner dies unexpectedly.
02
Later years
As children become independent, debt falls, the mortgage may be paid down, and retirement assets grow, the type and amount of protection needed can change.
03
Review at life events
Marriage, a new child, buying a home, changing jobs, starting a business, a major raise, divorce, and approaching retirement are all good times to review coverage.