Insurance Policy Review
Insurance Policy Review Service
Many people feel that once they purchase insurance it can be locked away until needed. That’s really not true. As you move through life your need for insurance changes. The right coverage when raising a family or building a business may be very different from your need in retirement or as part of your estate plan.
Insurance companies are continually changing their offerings. Premiums go up and down, new riders become available and in some cases people who were previously declined or highly rated may now be viewed more favorably. That’s why we offer a Policy Review Service for life, disability and long term care insurance.
Here’s how it works –
There is no charge for the initial consultation. Based on your situation we can determine how to work together. As insurance brokers we can help evaluate and purchase the desired coverage or if a more comprehensive capital needs analysis is appropriate we can work with you on a fee basis.
For existing insurance --
Contact us to discuss your current coverage. Depending on the kind of coverage we can determine what information is needed to review your policies.
In some cases an in force ledger from your insurance company may be required. Your insurer can produce the in force ledger which could take a few weeks to be processed. Once the report is produced we can schedule a meeting to discuss your coverage.
For Trustees and fiduciary relationships additional analysis from The Insurance Advisor is also available.
If you –
- Are satisfied with your existing coverage we suggest you make no changes and have it reviewed every 3-5 years.
- Are not satisfied with your existing coverage or require additional coverage we can help you, in our role as insurance brokers, evaluate and purchase new coverage.
For proposed insurance --
Contact us before you purchase a new policy. We can provide you with independent research on the proposed policy as well as possible alternatives to compare.
We will need a sales illustration with detailed expense pages for any proposed coverage. To save time, you can obtain this information from your insurance agent. We can then arrange a meeting with you to discuss your proposed insurance.
Once you determine the amount of coverage desired and preferred insurer you can work with us in our role as insurance brokers, or your insurance advisor, or both to get the policy issued. For Trustees and fiduciary relationships additional analysis from the insurance advisor is also available.
If you may be rated or have health issues --
Most insurance companies offer different rating classes and required premiums. Contact us to discuss your insurance needs and health issues. How an individual is rated is different when shopping for life, disability and long term care insurance. For example, you may rated or even declined for long term care coverage, but could get a life insurance policy with no rating or vice versa.
Contact us to discuss your situation. To shop your case among different insurers we will require a fact finder as well as a release allowing us to request and share your medical records and history.