September is Life Insurance Awareness Month… Take the time to review your coverage
When you made the decision to purchase life insurance, the circumstances, needs, and goals that were present at the time the original policy was purchased played a significant role in the type of policy and coverage selected. Similarly, the circumstances, needs, and goals of the insurance carrier you bought your coverage from played a prominent role in the product they created for you.
Due to new industry regulations and a low interest rate environment, insurance carriers have revaluated their product portfolios. These changes may have affected your current policy, making it important for you to do an appraisal of your coverage.
Your life’s circumstances have likely evolved over the years. Has your life insurance evolved too?
The situation, needs and goals that were present at the time the original policy was purchased played a significant role in the type of policy and coverage you selected. Over time, these same situations, needs and goals can deepen, resolve themselves or go in a completely different or unanticipated direction. Read more about re-appraising your insurance in our downloadable guide.
We Can Help
If you would like an appraisal of your insurance contracts, gather your most recent insurance statements and contact us for a review. After we have appraised your policies, we will call you to discuss them in more detail.
Please note: This article is not intended as an invitation to replace your existing policy coverage. This approach is often not suitable due to factors such as surrender charges on your existing contract, the surrender charge period on the new contract, transaction costs associated with the exchange, the values of the new contract versus the old contract and the various fees and expenses associated with the new product. Replacing an existing policy should only be considered after a careful evaluation and appraisal of your existing coverage.