By Tim Lyons, Palm Beach Gardens, FL. Last reviewed September 29, 2026.
Most people buy a life insurance policy once and never look at it again. Jobs change, families grow, mortgages get paid down, and the coverage that made sense ten years ago often does not match your life today. A review checks whether your policy still fits, and whether you’re paying for the right amount and the right type.
How Many Families Are Underinsured?
A lot of them. In its 2024 Insurance Barometer Study, LIMRA and Life Happens found that 42% of American adults, about 102 million people, say they need or need more life insurance.[1] The gap is not only for people with nothing. Many people have a policy that no longer fits.
What Happens to a Family When Income Stops?
Your paycheck pays the mortgage, the car, the kids’ costs, and the savings plan. If it stops, the bills do not. Life insurance is the money that keeps a plan going for the people who depend on you. The right amount depends on your income, debts, and family needs, not on a flat rule.
What We Look At in a Policy Review
- Whether your coverage amount still matches your income, debts, and family needs
- Term versus permanent coverage, and whether your current mix still makes sense
- Beneficiary designations. Outdated ones are more common than you’d think
- Premium cost relative to current health and age-based rates
- Cash value performance, if you hold a permanent policy
- Coordination with employer-provided coverage, which usually isn’t enough on its own
When Does a Life Insurance Review Make Sense?
A review is worth doing any time something big changes: a new child, a new mortgage, a marriage or divorce, a new job, or simply because it’s been several years since you looked at the policy. It’s also worth doing well before a term policy is set to expire, since replacing coverage gets more expensive as you age.
- You had a child or your family has grown
- You bought a home or increased your mortgage
- Your income has changed significantly
- Your term policy is nearing its end date
- You’re not sure what your current policy actually covers
- You’ve never had a professional review the policy at all
Who Will You Actually Talk To?
Me. When you call or text, I answer. I am Tim Lyons, and I stay with you from your first question to the day your life insurance policy is delivered. You will not be handed to a call center, a quote form, or a chatbot.
- Free answers before we start. Ask anything on a 15 minute call. There is no cost and no obligation.
- I shop the carriers. I do not sell one company’s policy. I compare carriers and bring forward the lowest quote for the coverage you need.
- I run the process. I walk you through the health interview, read the formal offer, and explain every line.
- I answer when things change. If the price or terms move, you hear it from me, with options.
How Is This Different From Buying Online or From One Company?
- Online quote forms: you answer alone, and if the price changes after underwriting, you are on your own.
- An agent tied to one company: you see one company’s policies.
- Working with me: I compare carriers, stay with you through underwriting, and re-shop if the offer moves.
We start by looking at your current policy documents alongside your overall financial picture: income, debts, dependents, and other coverage. From there we tell you plainly whether your coverage looks right, underinsured, over-insured, or simply outdated, and walk through what changing it would involve.
What Happens After You Say Yes to a Quote?
There are three steps, and you can stop at any of them.
- We compare rates. The lowest quote for the coverage you need moves forward.
- The carrier completes underwriting. Underwriting is when they review your health and make a formal offer.
- We look at real pricing together. We check the face amount, term length, premiums, and other policy features.
Most of the time, nothing changes. It is just a chance to confirm the numbers.
Why can two carriers price the same person differently?
Every carrier scores health a little differently. Think of a big spreadsheet with a tab for each factor: height, weight, age, job, and more. Each company draws its cutoffs in slightly different places. What one carrier rates as “standard,” another might rate as “preferred.”
What if the price goes up?
Some agents skip this step. They say “the price changed” and push you to accept it. I will not do that. The health interview gives us the detail we need to shop other carriers, so if the number moves, we look at other options first. I am not stuck with the first offer, and neither are you.
What if the price goes down?
It can. Underwriting sometimes moves your rating in your favor. When that happens, I re-run the quotes with the new rating class to confirm the lowest option is still the lowest.
What Holds People Back From Moving Forward?
“I’m healthy. Do I really need it?”
Health is the reason to look now. Price is based on your age and health at the time you apply, and a health change later can limit your options.
“It will cost too much.”
People often guess high. In the 2025 Insurance Barometer Study, healthy adults ages 18 to 30 overestimated the cost of a $250,000, 20 year term policy by about 10 to 12 times.[2] A quote takes one conversation and costs nothing.
“I have coverage through work.”
Group coverage is often a set multiple of your salary, and it may end when you leave the job unless your plan lets you convert or carry it over. A review shows you exactly where the gap is.
“Will I have to do a medical exam?”
It depends on the carrier, your age, and your health. Some offers need no exam. I will tell you what to expect before you commit to anything.
“I don’t want a pushy sales call.”
Fair. The call is free, it is 15 minutes, and you can hang up with answers and no obligation.
Ready for a Free 15 Minute Call?
Bring your questions, and your current policy if you have one. We will look at what you have, what you need, and what your options are.
Common Questions About Life Insurance Reviews
It depends on your income, debts, dependents, and other savings, not a flat multiple of salary. We calculate a number based on your actual situation rather than a generic rule of thumb.
Neither is universally better. Term is generally lower cost coverage for a set period, while permanent policies last your whole life and can build cash value. The right choice depends on your goals and budget.
Coverage ends unless you renew, convert to a permanent policy, or buy a new policy, usually at a higher cost since it’s priced off your age and health at that time. It’s worth reviewing options before the term ends, not after.
For many people, no. Group coverage is often a set multiple of salary, and it may end if you leave the job unless your plan lets you convert or carry it over. A review shows you exactly where the gap is.
Every few years at minimum, and any time you have a major life change, such as a new child, a home purchase, a marriage, or a significant income change.
Underwriting is when the carrier reviews your health and makes a formal offer. It is the step between a quote and a real policy.
Most of the time, no. Sometimes the health review shows something the quote did not account for, and the offer moves. If it does, we look at other carriers before you accept anything.
Yes. Sometimes the carrier re-rates you into a better health class, and the offer comes back lower than the quote. When that happens, we re-run the quotes to confirm the numbers.
Nothing. It is a free conversation with me. You can ask questions, and you decide whether to go further.
Ready to start? Book a free 15 minute call or call or text me at 561-331-6226. You will talk to me, Tim Lyons, not a call center and not a chatbot.
Sources
- LIMRA and Life Happens. “U.S. Life Insurance Need Gap Grows in 2024 (2024 Insurance Barometer Study).” April 15, 2024. https://www.limra.com/en/newsroom/news-releases/2024/u.s.-life-insurance-need-gap-grows-in-2024/
- LIMRA and Life Happens. “Adults Age 30 and Younger Overestimate Life Insurance Cost by 10 to 12 Times (2025 Insurance Barometer Study).” June 25, 2025. https://www.limra.com/en/newsroom/news-releases/2025/adults-age-30-and-younger-overestimate-life-insurance-cost-by-1012-times/
Accessed September 29, 2026.
Securities and advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC. Lyons Resources and LPL Financial are separate entities.