Set It and Forget It …. The Forgotten Asset
Most people experience a similar emotion when they hear the word life insurance: warm, fuzzy, happy thoughts, yeah right. We hear the words life insurance and every emotion, thought or word that surfaces is negative.
Life insurance is that taboo “thing” you know you need but don’t want to purchase. And if you have purchased it, you sure don’t want to revisit the process ever again.
I would wager that if you own a life insurance policy, you might not even remember where you put your actual policy, and if you’re the rare few who do know where you put the policy, you haven’t looked at it in years.
Let’s face it, life insurance is like the Ron Popeil Chicken Cooker.
“You set it and forget it”
Once purchased, you’re finished. However, you may want to take a moment and listen to our recent podcast with guest, Cory Grant, J.D., as we discuss some concerning changes in the life insurance industry.
Do you own a whole life, universal life or variable life insurance policies issued by Transamerica, Voya/ING, Lincoln Financial Group, Banner, Hartford, American General or AXA? If so, please keep reading.
These carriers recently raised their “cost of insurance” rates for many existing policyholders. The increases were significant, over 30% in some cases, depending on the type of policy and age of the insured.
Historically, we almost never see carriers raise their cost of insurance rates, even in turbulent financial times. But it should be pointed out that these carriers have not achieved superior industry ratings for the last several years. This, therefore, necessitates the need to be educated and informed about your policies.
We provide life insurance services with independence, impartiality, and professionalism. Through our independent review system, we provide you with an unbiased policy audit and review. It includes detailed policy information and the credit quality of the underlying carrier. Once you understand exactly what is owned, and if it will continue to perform as you expect, thoughtful decisions about the coverage can be made based on your current goals and objectives.
If you own a policy with one of these carriers or any other, you should have your policy reviewed today!
Let us provide you with a written life insurance audit customized for your life.