investment products, permanent life
insurance is rarely reviewed to evaluate its
performance. Declines in interest rates,
changing insurance costs, and market
conditions significantly affect your
client's policy. Yet the impact of these
changes is seldom explored or understood.
These factors can cause significant
increases in the cost of an insurance policy
or, even worse, cause coverage to expire
during the lifetime of the insured.
insurance is not a rare occurrence---it is a
significant problem. If you don't review
your client's policies as their trusted
advisor, who will? Reviewing your client's
policies may protect you from liability
under the Uniform Prudent Investor Act or
your state's fiduciary standards.
What is a Policy Assessment?
Policy Assessment report is an
objective third-party review of your
client's existing life insurance coverage.
This review is completed at no cost to your
Provide Your Clients with Peace of Mind
Assessment is always in your client's best
financial interest and may conclude that
no changes are necessary. If improvements
are suggested, the Policy Assessment
clearly explains how and why your client
will benefit financially from taking
advantage of the recommendations.
Regardless of the outcome, providing a
Policy Assessment assures your client that
you have their best interests in mind.
The Policy Assessment evaluates
several critical policy areas
Is the Policy in Danger of Lapsing Prematurely?
many consumers are unaware that their
"permanent" life insurance policies are in
danger of expiring before the insured's death.
In these instances, it is important to inform
the insured of the potential that a policy may
expire earlier than expected.
Is Your Client Paying Too Much for Insurance?
declining interest rates and changes in the
economy mean that your client could receive the
same coverage for a lower premium.
Can Your Client Increase Coverage and/or Reduce
the Cost of Current Coverage?
assessment shows that your client has the option
of either paying less for their coverage or
continuing their payments while significantly
increasing the amount that they leave to the
people and causes they care about.
Is Your Client's Policy Performing as Expected?
About 40 percent
of the reviews we conduct reveal a
policy performing as originally intended. In
these cases, the report will recommend
continuing the "as is" unless the client's needs
have significantly changed.