<title>Add a life insurance policy to your lifetime plan</title>
<category>lifeplan</category>
<klink type="prcdr">How do I add a life insurance policy to my lifetime plan?</klink>
</index>
<content>
<ol>
<li>On the <emph>Planner</emph> menu, click <emph>Lifetime Planner</emph>.</li>
<li>In the left pane, click <emph>Savings & Investments</emph>, and then click <emph>Life Insurance</emph>.</li>
<li>Click <emph>Add Policy</emph>.</li>
<li>Follow the instructions on the screen.</li>
</ol>
</content>
<footer>
<extend>
<tease>What if I don't know what kind of life insurance policy I have?</tease>
<reveal>
<p>Usually, your life insurance policy will describe your policy type in the cover documents you receive with the legal policy itself. If you're still not sure, choose term life insurance, which is the most common.</p>
</reveal>
</extend>
<extend>
<tease>How do I decide whether to plan to renew a term life insurance policy when it expires?</tease>
<reveal>
<p>Think about where you expect to be when the policy expires. Will you have accumulated enough savings to take care of your dependents or enough savings that your dependents would no longer need the full amount of benefits your current policy offers? If so, you might not need to renew your policy.</p>
<p>If your dependents might need more than you'll have saved at that point, though, it makes sense to plan to renew the policy. If your investments end up doing better than you expect, you can always decide not to renew it.</p>
