Permanent life insurance policies are complex instruments and should be reviewed at least every few years. Audits should include:
Policy performance to determine if the policy is performing as expected, and consideration for:
Our goal is to offer a better alternative to fit the current and future needs of our clients, by scrutinizing current in-force policies and negotiating for better, more cost-effective options. The options may include reducing premiums through more cost-effective programs, or being able to increase the benefits of the plan for the same cost.
Life insurance policies are often purchased based on assumptions about future performance and needs. Some insurance policy’s performance relies on crediting rates or dividend payments from insurance companies. The amount and frequency of premium payments can impact the anticipated future values of a policy. Life insurance policies death benefit may be impacted by late or missed premium payments or outstanding policy loans.
A Life Insurance Audit is a comprehensive evaluation of your existing life insurance coverage. It is designed to help determine how the insurance policies you own are meeting current needs. Life insurance is a financial product and should be managed, like any other asset.