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.