During tough economic times, everyone is looking for ways to reduce their cost of living. A review of life insurance may be the biggest savings and the most important one!
To avoid placing you and your family at risk, or merely determining if the same security could be acquired at a reduced cost, the questions you must be asking are:
- Is my policy premium and death benefit guaranteed until I die, regardless of when I die?
- If my premium and death benefit are not guaranteed and I purchased a “general account” policy, what effect will a declining interest rate environment have on my ability to maintain my coverage?
- Will my annual premium rise?
- Will my policy lapse if I cannot afford to pay increased annual premiums?
- If my premium and death benefit are not guaranteed and I purchased a “variable account” policy, what effect will a declining equity, bond or real estate market have on my ability to maintain my coverage?
- Will my annual premium rise?
- Will my policy lapse if I cannot afford to pay increased annual premiums?
- If my premium and death benefit are not guaranteed, regardless of whether I purchased a “general account” or “variable” product, can my carrier increase my policies’ internal charges?
- Will my annual premium rise?
- Will my policy lapse if I cannot afford to pay increased annual premiums?
- What are my options if I cannot afford my premiums or I decide I do NOT want/need my coverage?
- What is the financial health of my insurance carrier and can I obtain a policy from a more secure carrier?
- Will my death benefit be paid to the intended party(s) or will I unintentionally disinherit those that I care for the most?
ARI Financial Group has developed a life insurance analysis methodology to help not only avoid these risks, but in many circumstances, assist insureds and their families to optimize their coverage. Our unique life insurance analysis process addresses each of the financial issues discussed. At the conclusion, you and your family will be comforted in knowing that:
- You will be insured with the appropriate amount of death benefit that is required to maintain your family if you are not here to provide for them.
- You will either understand the risks to your policy should it not be guaranteed, or you will be insured by a financially stable carrier who has issued you a policy that guarantees your coverage for your life.
- Your death benefit will be directed to those beneficiaries you desire to provide for in the most tax-advantaged format.
In providing a life insurance policy review, our goal is to help our clients better understand their current situation and provide them with information that can help them decide what course of action makes the most sense for them at this time.
