Insurance Insights: Keeping up with your changing life

Brian McGrail

When I ask our insurance team members about why they love doing what they do, I almost always hear the same thing: They enjoy getting to know our members and their lives, and working with them to customize the right insurance, at the right value.

Insurance isn’t something you should “set and forget.” Instead, your coverage should be unique to you. And as things change in your life, a good agent will work with you to make sure your insurance keeps up.

One great example is Life Insurance. I know for many of us that discussing life insurance can be uncomfortable. As it happens, September is Life Insurance Awareness Month, so it’s actually a good time to make sure your coverage gives you and your loved ones the peace of mind you deserve—which is what insurance is all about.

Here are a few of the most common reasons we’ll work with you to adjust your life insurance coverage to match your life:

  • You got married. Congratulations! As you set out together in the world, it’s likely your shared expenses will increase, and you’ll come to rely on both of your incomes to support your household. Did you know 7 of 10 households in the U.S. would have trouble covering everyday living expenses after just a few months if the primary wage earner unexpectedly passes? Having the right policy ensures your spouse won’t have to worry about making ends meet.
  • Your household has grown. If you’ve had or adopted children, you’ll want to be able to support them even after you’re gone. Not only can a life insurance policy cover the cost of raising a child, it can also cover future expenses, such as college tuition.
  • You started a new job. While many employers offer life insurance as a perk of the job, these policies typically only cover one to two times your annual income—and most people need five to 10 times their annual earnings to support everyone they leave behind. Plus, these policies are rarely portable, so they don’t cover you if you leave your job. Additional coverage can easily fill these gaps.
  • You bought a new home. Since you’re likely already reviewing insurance options, this is a great opportunity to make sure your family can afford to stay in the home in the event you’re no longer around to pay the mortgage.
  • You’ve retired. Most people assess their entire financial picture upon retirement—and life insurance should be a part of that picture. Permanent life policies with cash value can be used as a form of retirement income. Some retirees will reduce their coverage when they realize their surviving spouses, partners, and grown children may not need any financial help. Others may expand coverage so debt from things like funeral costs and medical bills are covered.

No matter what’s going on in your life, AAA is here to help you manage the insurance side of things so you can focus on living. To learn more and discover the different coverages, visit

Brian McGrail is the vice president of insurance for AAA Colorado.