Atlas Benefits Advisor

Life Insurance Checklist

A Practical Guide for Individuals & Families

This checklist is designed to help you evaluate your life insurance needs, understand your options, and prepare for a conversation with an advisor.

1. Determine Your Coverage Needs

Calculate income replacement needs (typically 10–20× your annual income)

Include major debts (mortgage, student loans, etc.)

Factor in future expenses (education, childcare, etc.)

Include final expenses and emergency reserves

Term Life — Temporary coverage, lower cost, ideal for income protection

Whole Life — Permanent coverage with guaranteed cash value

Indexed Universal Life (IUL) — Flexible premiums with cash value growth potential

Review how life insurance works with your 403(b), pension, or 401(k)

Check beneficiary designations on retirement accounts

Understand tax implications of different policy types

Are you a fiduciary advisor?

Which insurance carriers are you recommending and why?

What are the long-term costs and guarantees of this policy?

How does this coordinate with my existing benefits and retirement plans?

Buying insufficient coverage

Choosing a policy based only on price

Not reviewing your policy every 3–5 years

Forgetting to update beneficiaries after major life events

Atlas Benefits Advisor

www.atlasbenefitsadvisor.com
631-389-2358

This document is for educational purposes only and does not constitute financial, legal, or tax advice.