Policy Review

People periodically review their bank statements, retirement portfolio, and car insurance, but seldom take the time to review their life insurance policy(s). If life insurance is a part of someone’s financial strategy it is prudent to review the policy(s) at least every two years. A regular review can help make sure goals and protection needs are being met.

People’s life insurance needs change over time and so do life insurance products, that is why scheduling a policy review with an experienced life insurance agent is a good idea. Life is unpredictable and the passage of time may bring about a new job, new home, children, and even a change in health, which is why periodic life insurance reviews are important. A policy review gives someone the opportunity to review their current financial situation and evaluate their life insurance needs.

  • You may have the ability to lower your premium expense for the exact same amount of protection.
  • You might have the ability to acquire more coverage for the exact same premium you are paying now.
  • It may be possible to enhance the survivor benefit coverage.
  • There might be a way to assist enhance policy efficiency and construct cash value.
  • You may be able to gain functions and advantages not available on your present policy.

Here are a few life events that may prompt a life insurance policy review:

  • Children / Adoption
  • Change in marital status
  • New home
  • Job promotion or job change
  • Taking on debt

All financial tools need a periodic review.  Life insurance policy offerings have significantly changed over the years and it is wise to make the right adjustments sooner than later.