Does your life insurance policy still fit you and your family's needs?
If there is one thing that is certain, it is that change is all around us. Just as everything in your life - family structure, jobs, housing, savings, etc... - is constantly changing, so are your life insurance needs.
Does your life insurance policy still fit your current circumstances and objectives? Are you receiving the protection both you and and your family deserve?
At Brian Greenberg & Associates, we have spent years building expertise in life insurance policies - types, structures, coverage, etc... Through our free insurance review, we can identify any life, economic, and industry changes that may have affected your coverage. We will also evaluate the promises you were made when your policy was originally purchased. Is the cash that was projected to be in your policy, actually there? By being proactive, undelivered promises can possibly be fixed before it's too late.
What's covered in a policy review?
A proper policy review involves more than a current life insurance death benefit analysis. We will look at your coverage holistically in light of:
- Changes in your life
- Current economic conditions
- Your current life expectancy
- Recent insurance industry trends in underwriting, costs, and features
Once we get an idea of the above, we will review all aspects of your coverage, including:
- Protection - Is your goal income protection or estate protection? The answer to this question will dictate how much protection you need.
- Annual Premiums - How much are your paying for your coverage? Can your goals be met more economically?
- Ownership Structure - Is the current policy ownership the most tax-efficient for your goals?
- Beneficiary Designations - Are your beneficiary designations up to date? Are all of your intentions properly addressed?
- Supplementary Benefits - Are any optional riders and coverage still necessary? Are there new options that may be appealing?
- Cash Value and Performance - Is the performance of a permanent policy meeting your expectations? Is the cash value capable of sustaining the policy?
Common life-changing events that may affect life insurance needs include:
- Change in job status, including a new job or promotion
- Marriage, divorce, or death of a spouse
- Birth or adoption of a child
- Child or children "left the nest"
- Purchase of a new home
- Experience significant change in assets, such as high losses, gains of an inheritance
- Increase/decrease of debt load