• Financial Planning with Variable Income
• Investing During Volatile Markets
• Retirement Planning for Small Businesses
• Traditional Individual Retirement Accounts
• Asset Allocation
• Best Practices of Generational Wealth Transfer
• Your Rollover Options
• Staying on Track
• Estimating Retirement Income Needs
• Private Foundations and Donor-advised Funds
• The Value of Professional Financial Planning
• Adding Value to Your Home Before Selling
• The Financial Planning Process
• How to Talk Money With Your Family
• The Value of a Comprehensive Financial Plan
• The Best Places to Retire
• Estate Planning Checklist
• Dealing with Identity Theft
• Insurance Review

Insurance Review

Wealth Management – Life Insurance Reviews

We all know that nothing ever stays the same. Yet when it comes to life insurance we rarely take the time to make sure our needs are in sync with our coverage. A simple review of your policies can provide you with the assurance you need. This process is similar to how you regularly review your investment portfolio, tracking performance against your objectives.

There’s no time like the present

Even if you believe your coverage is adequate, now may be a good time to review your insurance policy for a number of reasons:

1. You may be able to save $$$$. Longer life expectancies, competitive pressures, and home office efficiencies are just some of the factors that have led to the decline in the cost of insurance.

2. Some life insurance contracts issued more than five or six years ago may not guarantee your death benefit even if your premiums have been paid as planned.

3. Older policies may not have earned as high a return as originally projected. This not only decreases the cash in the contract, it also increases the total cost of insurance deductions, thereby accelerating the decline of your remaining cash value. The end result may well be that your policy will implode, terminating your coverage.

4. Changing life events in families can also trigger the need for a policy review. These may include situations such as retirement, changes in marital status, becoming a parent, as well as changes in jobs or careers. If these or other events have occurred then it is probably a good time to reassess your needs.

Life insurance is an important component of most families’ wealth preservation planning. For obvious reasons, it is also one of the areas ripe with procrastination. Understanding what you currently own, your needs, and what type of policy(s) best fit those needs is an important step to achieving long-term financial planning success. If you’re not sure where to begin, simply gather your statements and bring them into the office. We can assist you with the process, empowering you to make informed decisions based on unbiased data. DON’T DELAY, ACT NOW!!!