When Life Changes, So Should Your Insurance: Marriage, Divorce, Retirement & More
Life doesn’t stand still, and neither should your insurance.
Whether you just got married, recently divorced, had a baby, retired, or lost job-based coverage, these milestones don’t just affect your day-to-day life. They also open short windows of time where you can review and update your insurance coverage.
Marriage
Getting married isn’t just about merging households. It’s also a chance to combine insurance. You may now qualify to join your spouse’s plan, or it might make more sense for them to join yours. This is also a great time to think about life insurance or disability coverage to help protect each other financially.
Divorce
This one’s tough emotionally, and often overlooked when it comes to practical details. Divorce usually means you’ll need your own health insurance again, and it's one of the few situations where you can apply for a plan mid-year. It’s also important to update any life insurance or retirement account beneficiaries.
New Baby or Adoption
Congratulations! Whether it’s through birth or adoption, adding a child to your family qualifies as a life event for insurance purposes. It’s also a good time to think about coverage for both parents and possibly even a small policy for your child.
Retirement or Job Change
Retiring or losing job-based coverage can feel overwhelming, but there are solid options. Medicare, Marketplace plans, or COBRA could all be on the table depending on your situation. Knowing your timeline and how these options work can make a big difference financially and reduce stress.
Why It Matters
Most insurance plans only allow changes during specific times of year like the Medicare Annual Enrollment Period or ACA Open Enrollment. But life changes open special enrollment windows. If you miss those, you could be stuck with the wrong coverage—or no coverage at all—for several months.
Need Help Sorting It Out?
You don’t have to figure this out on your own. At Woodside Financial Services, we help people make sense of their options when life shifts—at no extra cost to you. We’re local, we’re personal, and we’ve been helping families through life’s transitions for over 30 years.
Let’s Talk
If something in your life has changed recently, let’s schedule a time to review your coverage. The right advice now can save you money and frustration later.
