800.308.BELL

The L.I.F.E. Policy Review

Most doctors recommend a routine annual checkup to review a patient’s health condition. As patients grow older, health conditions change and an annual checkup may include additional tests like EKGs, blood and urine exams to make adjustments in medication, diet and exercise to keep healthy.

Most financial advisors recommend a routine annual review of their client’s financial portfolio; both investments as well insurance. As clients grow older, life events occur and so annual reviews are critical to make adjustments along the way to keep the client’s financial goals on target.

A Life Policy Checkup is crucial in the ongoing review of client’s financial portfolio   to maintain the indemnification needs of a family, business or estate against economic loss. In addition, the Life Policy Checkup also reviews life policies that were purchased as supplemental tax advantaged income vehicles, so examining the tax status, death benefit maintenance and premiums contributions to measure projected income scenarios against the original income target goals needs to be measured and compared an in force ledger.  

And perhaps the most important aspect of a Life Policy Checkup and frequently the most neglected is the medical conditions; not only of the client, but of the medical underwriting of the original carrier as well. Client’s health conditions can change for the better, such as a smoker becoming a non smoker. Carrier’s underwriting protocols and impairment pricing change resulting in a better health classification, lowering the premium or increasing benefits.Over 65% of all Life Policy Checkups can generally save money or increase benefits. If you don’t perform a checkup, you’re competition will. So if nothing more, a life policy checkup is a conservation strategy to maintain client retention.