Have you ever heard of a Life Insurance Audit? It’s something you should be aware of. Life insurance is one of those things that everyone wants to set it and forget it. Unfortunately, as the economy changes so doesn’t your life insurance. Also life happens. You get married, buy a new house, have kids, change jobs, etc. These things can have a drastic effect on your need for life insurance.
Let’s face it, no one wants to deal with their own demise. You don’t want to think about it, you definitely don’t want to worry about it and you probably don’t want to talk about it. At some point in your life you are going to need life insurance. Actually, you might not but those that depend on you definitely will, your children, you spouse and your employees. So what did you do when you reached that point? Maybe you searched the internet, filed out a form online? Maybe you knew a guy, neighbor, college buddy? Or had a friend or family member that knew someone?
You got your insurance right? You needed to for your family. Now you can sleep well at night and not have to worry about it. You’re all set. Or are you? Times have changed. Your sick of paying the bill wondering if you’ll ever need or even use it. You don’t like seeing money go out the door with no return. Sound about right?
Then there are the people with permanent coverage. You wonder want return you’re getting if any. Is your cash value going to be there when you need it? Will this policy really do what the guy told you it would do? Unfortunately, permanent policies are blowing up left and right because they were sold by brainwashed agents that were looking for their commissions. This leaves you in a really bad spot. It sounds like a problem. Here’s your chance to fix it.
Today life insurance rates are at some of the lowest levels in history because people are living longer than they ever have before. What you do is get a Life Insurance Audit. This is a no cost, no obligation analysis done on your current insurance policy. It shows you how it is performing, where it is now and where it is projected to be in the future. Is it doing what it is suppose to be doing? More importantly is whether or not your old life insurance policy is still competitive. Can I get more coverage at the same or less cost? Here’s your comparison. Can I get the same coverage and put more money back in my pocket? Here’s your comparison. Can I extend my coverage to last longer without it costing a fortune? Here’s your comparison.
Now here’s the catch. Most insurance agents can’t do this. They aren’t independent and they truthfully, just don’t know enough about life insurance and different types of policies. They are brainwashed by the company they represent to believe that what that company offers is the best for just about everyone. Make sure you read my rant about life insurance. Here’s your chance to level the playing field. Get a Life Insurance Audit and know you have the best policy for what you are trying to accomplish.
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Wow, that actually sounds like a good idea. Especially with all of the scammers and the companies going down the drain left and right. I think this could help a lot of people to truly understand their policies.
Mike
Hi EOW,
I am from Toronto, Canada. I think that people here have the same ideas about permanent life insurance which is unfortunate. The type of insurance I believe you are talking about is UL (universal life) extra money is invested in the market, which we know is #@$?! The Dow Jones in Canadian dollars is about -5% for the year!
Ok what is better? We both have it in both countries, it has been around for over 100 years. It is particpating whole life insurance if you look at the dividends for 2008 it was about 7% or better. They have never had a negative year, plus you can get the money out tax free. The fact the IRS limits you on how much you can put into into it (Just like Canada) tells you it must be a good thing! Drop me a line and I can go into more details. In other countries like New Zealand, UK etc. you can’t buy it! Anyway if you are interested I can go into more details drop me a line.
Mike: Thank you for your comments. That’s why I wanted to post about this. I think it’s a great opportunity for people to get their questions answered about their current life insurance.
Brian: I’m very familiar with participating whole life insurance. The benefits of a Life Insurance Audit is that they work for all policies, permanent and term. I think there is more of a need for the audit with Universal Life policies and Whole Life policies since, as I’m sure you know, all whole life policies are not created equal. Thank you for adding to the conversation and making some great points.
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