Life insurance isn't a "sign it and forget it" product - but it doesn't need more than fifteen minutes a year either. This checklist turns that fifteen minutes into a tick-box exercise: six blocks, a couple of glances per block. The anniversary - when the indexation letter arrives - is the natural time for it.
In short:
- Once a year, around the anniversary - the indexation letter is the natural reminder.
- Six blocks: life situation, cover amount, indexation, designation, premium payment, documents.
- For a major change in your life situation, don't wait for the anniversary - act right away, mid-year.
1. Life-situation block
- Has your family changed? (birth, a child becoming independent, divorce, a new relationship) - trigger events
- Has your loan changed? (repayment, prepayment, refinancing, a new loan)
- Has your income or work changed? (a jump, a drop, starting a business, working abroad)
2. Cover-amount block
- A quick recalculation using the method: today's need = debt + years to replace + plans - reserves.
- Does the amount cover today's need? If there's a significant gap: increase it or adjust it - to guard against the two traps.
3. Indexation block
- This year's indexation offer: accept it or skip it? - decision factors
- Have you skipped it several years running? Check how much real value your cover has lost.
4. Designation block
- Is the beneficiary designation still current? - the separate five-minute checklist
- Does the loan-linked clause match your actual outstanding balance?
5. Premium-payment block
- Is the payment method automatic and active? (a common slip-up after switching banks) - paying the premium
- Is the premium "comfortable even in a bad month"? If it's a stretch: fine-tune the structure before it turns into missed premiums.
6. Document block
- Does the family know where the policy and the declarations are kept? - document map
- Are your contact details up to date with the insurer? (email, phone, address)
Stuck on any block? We can go through the annual review together too - it's my job, and it's fifteen minutes for you: book a time.
A question about your family's situation? Book a free 20-minute consultation →
This article is for information purposes only; it contains general information and does not constitute an offer or insurance advice. The exact content of insurance contracts is defined by the insurers' terms and conditions in force.
