Tune-up those policies
Reviewing your life insurance policies is necessary to protect the ones we love, before they break
by Jim Jordan
No one wants an auto mechanic who performs a 1 point inspection-oil change. At $35 plus, we expect the service to cover a 30 point inspection; checking tire levels, transmission fluids, belts, AC filters and on. This concept should hold true with your insurance coverage. It is important to perform a comprehensive annual review of your family’s life insurance coverage.
Be sure to discuss the following obvious updates;
- Job Changes
- Family Changes, Birth, Divorce, Beneficiary Changes
- Address Changes
- Website On-Boarding
- Long term financial goals
Additionally, discuss the follow technical policy features;
- Determine current Cash Value and Surrender Values
- Discuss term life conversion to a permanent coverage and pricing
- Review policy loan provisions
- Review partial surrender options
- Discuss accelerated death benefit provisions
- Discuss Life Expectancy
- Chronic Illness Riders
- Long Term Care Riders
A life insurance review can be a real asset to keep in step with your long-term goals, and prevent minor breakdowns. The reviews are free, so please reach out for a full service check up with one of our licensed agents here at Thomas & Associates.