Life Insurance Policy Review

Reviewing your current life insurance policy is essential in making sure you’re policy is doing what you intended it to.

75% of life insurance policies we review could be replaced at a lower cost with the same or better coverage OR are underperforming and are at risk for lapsing (whole or universal life).

Life Insurance Policy ReviewWe’ve also found people who experience the following life changing events should have a life insurance policy review completed:

-Improved health or lifestyle changes
-Recent Purchase of a new home
-Recent Purchase of a business
-Change in job or benefits
-Need to care for elderly parents
-The need to protect a child’s education funding
-Those who’ve taken loans or withdrawals from their permanent policy
-New addition to the family
-Empty nesters

Your life insurance agent should be in touch with you EVERY year to make sure your life insurance is keeping up with your life changing events. If your agent is not, give us a call and we’ll be happy to review your life insurance program.

We work with individual consumers, estate planners and financial advisors to make sure you have the right amount of insurance for the right duration, at the LOWEST possible cost.

6 Steps Of Our Life Insurance Policy Review

  1. Needs Analysis – Does this life insurance policy cover what you need it to?  Has anything changed?
  2. Underwriting Assessment – We’ll review your current health rating when you obtained your policy(s) and verify if they were fair offers for the right rate class or if they could be improved. We’ll also look at any health improvements or lifestyle changes that may have occurred since you purchased the policy.
  3. Market Comparison – With access to over 60 life insurance companies, we’ll review your health and compare what you have to what the rest of the life insurance market would offer.
  4. Lapse/Performance Analysis – For those with permanent policies, we’ll review the health of your policy. Most policies aren’t performing as were illustrated because of the markets lately and because of this, many are at risk for lapsing or big increases in premium. We’ll get an “inforce illustration” with your consent and review this with you.
  5. Financial Strength Assessment – There have been a number of financial downgrades lately and we’ll review your company’s financial strength ratings and go over anything in the news that should be of concern.
  6. Secondary Market Analysis – If you’re above age 65 and planning to lapse or discontinue your life insurance in the future, we’ll take a look at potentially selling your life insurance on the secondary market via a “life settlement” OR obtaining a lender for the premium payments.

Life insurance is often a “set it and forget it” type of purchase. If you can change that mind frame and think of it as a “managed asset”, you’ll always have the right coverage for your needs at the LOWEST possible cost. That’s the peace of mind that we offer.

If you’re interested in getting your policy reviewed for FREE by an experienced life insurance advisor, give us a call or fill out our request form and we’ll be in touch with you.