INSURANCE MELTDOWN - Part 2
So you’ve received your annual statement on your life insurance. After reading our article titled “Insurance Meltdown Part 1” you’re considering doing a policy review. You seem to remember the illustration presented to you by your life insurance agent showing projected returns. You wonder what this all means and how it affects your policy. After all, you were promised that if your policy performed as stated by your agent, you could be paid up for life after contributing premiums for a certain number of years. However after a cursory review this may not be true. As a matter of fact, within a short period of time, your policy could be in jeopardy!! How could this happen? You were sold this policy based on an illustration which may or may not represent actual performance. Remember that word “guarantee?” One of the first criteria to look at is how will your policy run under worst case scenario? After all, we all know that the illustration is sometimes used as a sales tool for the agent rather than considering some of the most important aspects of your policy. For example, how do the mortality costs affect your policy’s performance? What about internal policy fees, expenses and administration costs? What about historical performance based on current interest rates rather than the original illustration? An experienced independent insurance specialist can properly analyze and help determine where you stand along with assessing your needs.
The most important action you can take is to sit down with an independent insurance specialist and have these questions addressed. The insurance advisors at Golden Crest are trained to quickly give you the pertinent information you need to determine where you stand. If there can be improvements such as saving premium, enhancing your existing policy at no additional cost, or increasing death benefit and guarantees this would give you peace of mind. You will have confidence that your policy will accomplish what it was originally intended to do-protect the ones you love.
Call or email today for a free no obligation evaluation of your life insurance. You will be glad to know where you stand!
P.S. Make sure you stay tuned for our next article titled “why buy life insurance.” Until then hope to see you at one of our upcoming free educational seminars.
Golden Crest seminars are a great place to start if you are interested in getting general information on insurance or wealth planning. Our seminar schedule can be found on the Seminar page. If you cannot find a time or location that is convenient for you, we will be happy to meet with you at our office. Please call us at any time to set up your own no-obligation consultation.
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