A yearly review of your insurance policies gives you the opportunity to explore your coverage needs and what changes you might want to make.

Policy owners often overlook the vital need to review their policies. Though Term Life insurance does not require much attention, any permanent or cash value plan should be reviewed annually to ensure the plan is “sound” and at minimum meeting its base line expectations. Policies with loans, or poor performance can unexpectedly lapse, and or create an unexpected significant taxable event. So dust off that old policy and ask us for a review.

Other items to discuss when reviewing are:

Individual or Family Changes

  • Marriage or divorce
  • Purchase or sale of property
  • Birth or adoption of a child
  • Structure financial care for a special needs child
  • The care of a parent or parents
  • Beneficiary updates

Insureds change in health or aging: 

  • Change in health
  • A term policy that’s approaching the end of it’s guarantee period or it’s conversion period to a permanent policy
  • The need for more living benefits

Business & Career

  • Individual career change
  • Start-up your own business
  • Business debt
  • Business ownership change
  • Rewarding key personal
  • Loss of a key employee

Policy / Industry Specific Changes:

  • Policy performance based on interest rates
  • Policy loans / withdraws
  • Policy in trust not previously reviewed
  • Lapse protection / secondary guarantees
  • New lower mortality tables
  • Change in tax law