With Life Comes Change
And with change, comes a need to re-review your insurance needs. Proper insurance is a cornerstone of a well-rounded financial plan. Whether it be life insurance, long-term care, disability, retirement income, Medicare supplement or final expense, as independent insurance producers, we can help you navigate the many options you have. Request a Complimentary Analysis or quote today.
Do you currently have life insurance?
Most life insurance policies put in-force prior to 2002 were unknowingly structured to prevent their beneficiaries from receiving the death benefit. Are your loved ones at risk?
What is a Life Insurance Assessment?
A Life Insurance Assessment is a comprehensive and objective analysis of your existing policy(ies) that will contain everything you'll need to know if what you have is currently the right fit for you - consolidated in a complimentary and easy-to-understand 12-page report.
Why Should I Have My Policy(ies) Assessed?
- Life Expectancies have changed: medical advances and lifestyle changes have lengthened people' lives and insurance companies have implemented pricing based on more current life expectancy statistics - the longer you're expected to live, the less insurance costs.
- Interest rates & dividends have declined: Interest rates on insurance policies have followed the overall market and been on a steady decline over the last 10 years. In addition, the rate at which dividends are paid on policies has decreased. Both of these factors have caused many policies to not perform as anticipated.
- Market volatility: Fluctuations in the stock market have impacted every aspect of the financial services marketplace - including life insurance. Many Variable Life Insurance contracts are at risk of failing earlier than anticipated.
- Consolidations, Mergers & Acquisitions: life insurance companies have undergone widespread consolidation. Many times policyholders are not aware of these corporate changes and how they can affect the performance of their policy.
- Financial difficulties: the pressure on companies perform under the careful watch of Wall Street has driven some companies to change the way they manage their money and the way they manage customers. This has resulted in increases in fees and expenses chaged to insurance policies.
What Questions Should I Be Asking About My Current Insurance?
- How has my policy performed versus the way it was originally illustrated/projected to perform?
- How much sooner will my policy lapse than originally projected?
- How much more do I need to increase my premiums to keep it from lapsing? Should I increase my premiums?
- How much have my internal costs gone up?
- How much could I reduce my premiums while maintaining coverage?
- Do I now qualify for a better rate class that wasn't available when I first applied for insurance?
- Is my life expectancy different today? How does that affect my cost of insurance?
- Has my need for life insurance changed? Is there a solution that would make better use of my hard-earned money?
The first step to determining if your current insurance policy is still the right fit for you is to fully understand what you have - our Life Insurance Assessment report can help.