The Importance of Annual Life Insurance Reviews
Advisors Insurance Direct recommends that you review your life insurance policy yearly even if you have a policy that seems to be working for you at the moment. This is an opportunity to assess all of the aspects of any products you purchased in the past and consider whether they are relevant. Many people consider life insurance to be essential, particularly if they are responsible for providing for large families or business entities. However, because circumstances in your business and personal life are always changing, a policy that was appropriate a few months or years back may not necessarily be up to date.
Another benefit that can come from reviewing your life insurance policy is that you may find that your insurance rates have decreased, thus creating much-needed savings for you and your family. These reductions happen for a number of reasons regardless of whether you are old or young.
If you already have one or several life insurance policies, it may be a good idea to give us a call to review your current arrangements and to learn if any industry changes have occurred that may work in your favor. For a review of your existing insurance policy or to get a term life insurance, contact us today!
How Life Insurance Reviews Can Help
When reviewing your life insurance coverage, there are a number of factors that you will need to consider. These things will help you determine whether your current policy offers the appropriate coverage as well as if the premiums you are paying are too high. For example, your needs may have changed or the insurance company may have changed their rates.
At Advisors Insurance Direct, we can help you in the following ways:
- Identify the specific features and costs in your current policies
- Compare those policies to your current needs and other newer options
- Scan the market for possible other desirable alternatives
- Discuss with you how to best utilize and access these options
- Make sure that all your policies are owned properly with regard to tax efficiency and Trust arrangements
All of our financial professionals possess advanced degrees in related fields. These Certified Financial Planners™, Chartered Life Underwriters®, and Chartered Financial Consultants® are all well educated and very passionate about the industry. We can conduct a side-by-side comparison to determine if your current policies are appropriate and to help you find ways to cut down on your permanent and/or term life insurance cost.
Life Insurance Reviews: Factors to Consider
One of the main advantages of reviewing your permanent and term life insurance policies on an annual basis is the fact that this may result in a substantial savings. For example, your health could have improved, meaning that your premiums can be drastically reduced. In other cases, insurance rates may simply have dropped as a result of an insurance company looking to capture more of the market share.
In addition, your need for coverage may have increased or decreased. Either of these changes will influence your premiums. It is also important to consider that mortality costs can change. This also may impact the amount of coverage that you want and premium that you pay.
When reviewing your life insurance policies, our team is trained to talk you through the entire process ensuring that we consider all relevant factors.
Contact Our Financial Professionals to Review Your Life Insurance Today
Apart from the people that are looking for coverage for the first time, Advisors Insurance Direct helps clients that are looking for a positive change from their existing plans. The way that the industry is organized, with so many options available, means that you are not stuck with any given life insurance product should your needs change.
Call us today and our experts will conduct a thorough review of your existing life insurance policy and we can also provide you with a personalized permanent or term life insurance quote.