Insights: Article

September is National Life Insurance Awareness Month

September 11, 2018

Did you know our financial services advisors can conduct an insurance review? After purchasing life (or other) insurance, it’s important to periodically review all policies to make sure they align with current and future goals.

Our advisors view insurance as a tool to enhance an overall wealth plan and help achieve your dreams. Through our insurance review process, we analyze the fiscal health of current policies and look for ways to maximize policy coverage and premium savings. This objective and consultative approach puts your interest first and can help you to see the big picture.

Why review your life insurance?
An objective review of your policies will reveal crucial information:

  • Your insurance needs may have changed.
  • You may currently be paying for too much coverage. All policies sold since January 1, 2008 utilize the new 2001 CSO Mortality Tables, which reflect longer life expectancies and have allowed insurance companies to reduce their cost of insurance charges.
  • Your policy may be failing to perform as originally intended due to interest rate changes.
  • A premium increase may be scheduled for your policy.
  • The financial ratings of your insurer may have changed.
  • New products may provide lifetime guaranteed coverage, which would protect you from outliving your coverage, no matter how long you live. Some older product designs were created to mature before age 100, which could potentially lead to unwanted tax liabilities at a vulnerable age, or even no coverage at all.
  • Underwriting innovations or your health status may have improved, which can reduce the cost of alternative coverage.
  • New features and riders may offer important new benefits. This can include return of premium or guaranteed death benefit protection, as well as the ability to access the death benefit for chronic illness or long-term care needs.

Ready to make strides towards securing your future goals? Contact your Eide Bailly professional today to discuss an insurance review.

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Financial Advisor offers Investment Advisory Services through Eide Bailly Advisors LLC, a Registered Investment Advisor. Securities offered through United Planners Financial Services, Member of FINRA and SIPC. Eide Bailly Financial Services, LLC is the holding company for Eide Bailly Advisors, LLC. Eide Bailly Financial Services and its subsidiaries are not affiliated with United Planners. 
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