A qualifying life event refers to a significant change in an individual’s life that may allow them to make changes to their existing health insurance coverage outside of the designated enrollment period. These events can include marriage, divorce, birth or adoption of a child, loss of a job, or a change in residence. Qualifying life events are recognized by insurance companies and government agencies as valid reasons for individuals to make changes to their health insurance plans, such as enrolling in a new plan, adding or removing dependents, or changing coverage levels. This allows individuals to adjust their coverage to better suit their current needs and circumstances. Qualifying life events typically have a limited time frame in which individuals can make changes to their coverage, usually within 30-60 days of the event. This term is commonly used in the context of healthcare and insurance, but can also apply to other areas such as taxes and retirement plans.