This is an independent, comprehensive analysis of your current life insurance policy, your current needs and goals for life insurance, and your current health picture.
Time to Review Your Asset
You spend hard earned money on the premiums, and the death benefit is a significant portion of your estate, so why wouldn't you review your policy from time to time? As an investor, no doubt you often search for new investment opportunities that offer more potential than what you're currently getting. Life Insurance is the same. As you'll see from the info here, "auditing" your life insurance can prove enormously beneficial.
What is a Life Insurance Audit?
This is an independent, comprehensive analysis of your current life insurance policy, your current needs and goals for life insurance, and your current health picture. We then do a comparative analysis of your current situation versus currently marketed insurance plans, looking at things like mortality charges, interest rates, policy projections, cash values and secondary guarantees. Over 65% of the Policy Audits we have conducted have yielded room for improvement.
Who Should Consider an Audit?
Individuals
If your current insurance policy is over five years old, you will most likely benefit from a policy audit. Also, if your family or financial situation has changed since your policy was issued, an audit can help uncover changes in your need for insurance.
Businesses
Many businesses own life insurance policies on their key employees or as part of a buy/sell agreement. With today's economy companies are looking for opportunities to save. A Life Audit can provide your company with significant premium savings over your current plan.
Trustees
A 1999 study of Trust Owned Insurance Found:
30% of policies are in danger of lapsing within 7 years
80% warrant restructuring or replacement
71% of trustees haven't reviewed the policy in the past five years.