You May Be Paying for the Wrong Life Insurance
We're still in Life Insurance Awareness Month.
Last time, I asked you to figure out what life insurance you actually own. This week, I want you to go one step further and ask a harder question: Why do you still own it?
That question matters because life rarely stays the same after a policy is purchased.
The kids grow up and the mortgage goes down. Income and debt fluctuate. Relationships change, and so does your health.
Your financial goals also change.
Meanwhile, the policy keeps drafting every month like nothing happened.
That does not automatically mean the policy is bad. It may be doing exactly what it was designed to do.
The bigger question is whether it is still solving a problem you actually have.
👇🏾Let's hop in.
The Wealth Minute
Your Policy Has a Job. Do You Know What It Is?
Life insurance is often talked about like every policy is doing the same thing, but that is not true.
One policy may be designed to replace income. Another may be there to pay off debt or cover final expenses. Another may be intended to create a legacy, build cash value, or provide access to certain living benefits.
That is why the Life Insurance Review does not just ask what kind of policy you own.
It asks what job each policy is supposed to do, including income replacement, debt or mortgage, final expenses, legacy, long term care or chronic illness, and liquidity or cash value.
Here is where I want you to get uncomfortable for a minute.
If you cannot clearly say what the policy is supposed to accomplish, how do you know whether it is still worth paying for?
And if you can name the job, there is another question right behind it:
Do you still need that job done?
Watch the video for more →
What Is Built Wrong Eventually Shows
💬 Mindset Shift: A good policy can still be wrong for your current life.
🕊️ Faith Note: “To everything there is a season.” Ecclesiastes 3:1. Wisdom includes recognizing when the season has changed.
Bottom Line: Do not keep paying for yesterday’s problem without checking what today requires.
Wealth Moves
Pull out the Life Insurance Review you started earlier this month and go to the section titled Why Do I Have Each Policy?
For every policy, finish this sentence:
I own this policy because...
If the answer comes easily, good. If you stare at the line and cannot finish it, that is useful information too.
You do not need to change anything yet. You just need to know whether the policy has a clear assignment.
The Freedom Path
What If the Bigger Risk Is While You Are Still Living?
Most people look at life insurance and immediately focus on one number: the death benefit. They see $100,000, $250,000, or $500,000 and decide whether that sounds like enough.
But the death benefit is only one part of the conversation.
What happens if you live through something expensive? What if a serious illness affects your income? What if you need access to money during a difficult season? What if the policy has living benefits you have never looked at, cash value you do not understand, or premiums that can change later?
Those are not small details. The Life Insurance Review specifically asks whether you understand cash value, policy loans, living benefits, and whether premiums can change.
So instead of asking only, “What does this pay if I die?”, ask another question:
“What can this policy actually do for me while I am still here?”
If the answer is “I have no idea,” that is not a reason to panic. It is a reason to find out.
Watch this video for more:
What Is Built Wrong Eventually Shows
💬 Mindset Shift: Life insurance is not only a death conversation.
🕊️ Faith Note: “The prudent see danger and take refuge.” Proverbs 27:12. Wisdom looks beyond the most obvious risk.
Bottom Line: Know what your policy can do while you are living, not just what it pays when you die.
Wealth Moves
Choose one policy and look for three things:
Does it have cash value?
Does it have living benefits?
Are the premiums fixed or do they change?
You do not need to become an insurance expert.
The death benefit tells you one part of the story. The rest may still be sitting inside the policy.
If you cannot find the answers, that becomes your next question for the insurance company. Or reach out to schedule a complimentary insurance review.
Coffee Chat Question
If we were to meet for coffee, what would you want to know?
Feel free to email me questions that will anonymously be added to this section during each edition.
“Lisa, what if I know I need life insurance but I have no idea how much it would cost?”
That is actually a great place to start.
A lot of people delay looking because they assume the process will be long, complicated, or expensive.
But with Ethos, the application is online, takes about 10 minutes or less, and many applicants receive an instant decision.
Ethos also offers a no-medical-exam process, using a few health questions instead of the traditional exam and lab-work route.
So instead of wondering whether coverage fits your budget, you can actually look.
You can see available options, review the cost, and decide from there. If approved, coverage can often be activated the same day.
💬 Mindset Shift: You do not have to commit to coverage just to find out what it may cost.
🕊️ Faith Note: Proverbs 18:13 reminds us not to answer a matter before we hear it. Good decisions start with good information.
Bottom Line: Ten minutes could answer a question you have been putting off for years.
⚡ Your Next Right Move
This week, ask yourself one simple question:
What is this policy doing for me now?
You may know the answer right away. You may realize the reason you bought it years ago no longer fits. Or you may discover you are not completely sure what role it plays today.
Clarity first. Strategy second.
🕊️ Faith Note: “To everything there is a season.” Ecclesiastes 3:1
Sometimes clarity comes from noticing when the season changed, even if the policy did not.
Wake Up Your Money is moving to a biweekly rhythm.
You will still get the same practical money conversations, just every other week instead of weekly.
Stay Awake Out There,
