Your policy is guaranteed- why do I need to monitor it?
Very few policies are fully guaranteed- I was shocked when speaking with a very astute CPA that this was their perception of life insurance. What was shocking was the realization that while clients might believe that, their advisors would certainly not . There are so many moving pieces to the performance of a life policy, combined with the constant evolution of carriers enhancements or adjustments to policies on a regular basis, that a bi-annual review at a minimum is highly recommended.
Can’t we just set and forget our new policy?
If you drove a car a far distance without ever checking the engine or getting an oil change, would it be any big surprise when parts started breaking and smoke started coming out of the hood?
If you purchased a watch but never replaced the battery, would you be shocked one day when it stopped telling time?
The point here is clear: there are few things in life that you can “set and forget.”