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Three Reasons You’ll Benefit From An Independent Policy Review

When it comes to life insurance, clarity isn’t always the first word that comes to mind. Without asking a specialist to take a closer look, you may be missing out on a lot of the coverage you thought you paid for.

Here are three reasons why you could benefit from an independent policy review:

Beneficiary Arrangements

If you have dependents benefiting from your life insurance coverage, it’s important to understand the inner workings of beneficiary arrangements. Your life changes with having kids, getting married, and more; your insurance policy may not be keeping up with you. Often, a plan doesn’t last as long as needed, or family changes leave you with dependents that don’t have coverage. In the past, we mentioned a client who didn’t even realize their child wasn’t covered by the policy. By having a professional review your plan, you get the peace of mind that your loved ones will be protected.

Conversion Options

Conversion options are a promise from the insurance company that your preferred rating class will be allowed to continue on to a future policy, even if a change in health should arise. Without a good one you risk not getting the “free pass” many companies will give you.. The kicker – you may have an excellent conversion option at first, but it can degrade or expire over time. This is one of the first areas we look at in an independent policy review.

Benchmarking

Wouldn’t you like to know if there was a better option available for your needs? It’s a problem if your representative lacks access to the entire inventory of available policies. This can lead to higher premiums and coverage that doesn’t address your unique situation as well as it should. Benchmarking allows you to have another set of eyes and take a closer look.

– Are you paying more than you need to?
– Are you getting the best value for your money?
– Are your needs being addressed as well as possible?
– How well does this policy stand up compared to its peers?
– Is it the best policy or just the best policy offered by that particular company?
– Sometimes another policy that’s not only more cost-effective but offers better benefits as well.

It all starts with an independent policy review.


Independent Policy Review

The insurance world can be difficult to navigate. Without a clear understanding of their current plan, it’s difficult to be certain that your clients have the right coverage. If you’d like to take a closer look, you’ve come to the right place. We can answer your life insurance questions and provide the clarity you need to sleep easy. Learn more about our services or join our newsletter today. To contact us, click here.

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