Policy Review

Life insurance policies like any financial instrument require a periodic review to evaluate the current plan or uncover any policy deficiencies. Increased life expectancy, healthier lifestyles, and dramatic product improvements have helped to lower premiums considerably over the last several years. Many new policies offer stronger guarantees and lower premiums. Often clients wonder if they are overpaying for their life or disability insurance and also if their policy death benefit is guaranteed or merely projected based on interest rate assumptions that could be unrealistic. As experienced, unbiased independent insurance brokers with access to a large and diverse selection of the most financially secure insurance companies, we are able to provide a clear, simple, and complete analysis of each client’s current position and prospective alternatives.

We can conduct a policy review by going through the following steps

  • Get a signed authorization from the policy owner
  • We will order current illustrations and get current policy values
  • We look at how the policy has performed in the past and what its future projections and guarantees are
  • We personalize and then schedule a time when we can personally review your policy
  • If there’s room for improvement we can make arrangements to take the necessary steps

Benefits of a Life Insurance Policy Review

  • Underperforming policies – Lower interest rates and dividends may cause lapse in coverage
  • Inefficient design – Possibility of reducing annual premiums or increasing death benefit
  • Tax impact – Correcting any policy ownership unintended consequences
  • Underwriting – Better risk classes may be available and mortality costs have gone down
  • Product features – Newer products may provide better guarantees and internal rates of return
  • Changes in health status – Create options to evaluate opportunities