As an insurance professional, one of your most important responsibilities is ensuring that your clients have the right coverage for their evolving needs. Many policyholders purchase insurance and rarely revisit their coverage—until it’s too late. Regular policy reviews help protect clients from gaps in coverage, ensure they’re getting the best value, and build long-term trust.
Here’s why reviewing insurance coverage is crucial and three effective techniques to make these reviews impactful.
Why Policy Reviews Matter
- Life Changes Affect Coverage Needs
Clients' circumstances change—whether it’s buying a new home, expanding a business, having children, or retiring. Without updates, their insurance may be outdated and insufficient. - Insurance Products and Regulations Change
Insurance companies update policies, add new options, and adjust pricing. A review helps clients stay informed about better coverage options or potential savings. - Minimize Risk and Prevent Coverage Gaps
Many clients don’t realize when their coverage limits are too low or when new risks arise. Regular reviews help mitigate financial exposure and avoid surprises in a claim situation.
Three Effective Techniques for Reviewing Insurance with Clients
1. The Annual Review Meeting
Scheduling an annual review ensures that clients’ policies stay aligned with their needs. During this meeting:
✅ Discuss major life, property, or business changes that occurred in the past year.
✅ Compare current policies with potential improvements or cost-saving opportunities.
✅ Educate clients about new endorsements or policy features that could enhance their protection.
Pro Tip: Make it convenient! Offer in-person, phone, or virtual meeting options to fit the client’s schedule.
2. The Coverage Comparison Worksheet
Clients often struggle to understand how their coverage stacks up. Providing a simple comparison worksheet helps them visualize: