Life Insurance Analysis & Review
Will you outlive your life insurance?
For the last several years, we have been asking our clients this question and encouraging policyholders to seek guidance on their life insurance - what our firm calls a life insurance Professional Analysis and Review.
At REPS, we know your life insurance is one of the most valuable assets you own and want to discuss several reasons why a Professional Review and Analysis of your life insurance is imperative. Read on about how REPS will determine your life insurance needs and help you feel secure knowing your life insurance will be there when you or your family needs it.
Two Reasons You Need a Life Insurance Analysis & Review
The first reason is because the life insurance industry has adopted new mortality tables which were compiled in 2001. These tables reflect the fact that people, on average, are living longer than when the last set of mortality tables was compiled in 1980. As a result, the life insurance costs of new policies have been vastly reduced. Furthermore, many policies bought in the last 5-10 years may be already inappropriate or need revision.
The second reason is, due to a reduction in interest rates credited to cash values, a significant number of existing policies do not have projected values to keep the policy in force at older ages. Combine this with the aforementioned fact that, on average, people are living longer, and you have a formula for an unexpected interruption of insurance coverage at the wrong time. Imagine finding out that your life insurance is no longer in force just at the time your chance of death is at its highest.
Following is a list of reasons you should consider a life insurance Professional Analysis and Review:
- The cost of insurance has been significantly reduced recently.
- Extended periods of low interest rates have likely affected existing policy performance and, as a result, may require significantly higher premiums in the future to keep the policy in force.
- Your need for life insurance may have increased or decreased.
- Your health might have improved, qualifying you for a better rating.
- Your family or business situation may have changed.
- Loans, withdrawals, or other policy activity may have affected the policy performance.
- Premiums may not have been paid as planned.
Our firm’s life insurance Professional Analysis & Review offers an excellent opportunity to make sure that your insurance needs are appropriate to your current situation. You’ll have the confidence in knowing you’re “on track.” It’s that simple.
Learn more about our Professional Analysis & Review:
Download a printable Life Insurance P.A.R. overview and sample analysis>>
To discuss how we can help you with your Life Insurance needs, contact us via our website or call us at 704-372-5520.
Professional Analysis & Review
-
Read Our Newsletter:
