Change happens every day.
Let us provide an objective analysis of your life insurance portfolio.
Unlike other investment products, permanent life insurance is rarely reviewed to evaluate its performance. Declining interest rates, changing insurance costs, and shifting market conditions can significantly affect your policy. They may increase the policy's cost or, even worse, cause it to expire during your lifetime.
What is a Policy Assessment?
The Policy Assessment report is an objective, detailed, third-party review of your existing life insurance coverage. We complete this review at no cost to you. In the report, we'll analyze the most important elements of your policy to make sure they're fulfilling the intended purpose within your overall financial plan.
Our Policy Assessment is always in your best financial interest. In some cases, we'll conclude that no changes are necessary. On average, this happens 40% of the time. However, if we suggest improvements, our Policy Assessment clearly explains how and why you will benefit financially from our recommendations. If the policy is danger of expiring prematurely, our assessment will indicate when it's expected to expire. We'll also offer you alternatives to consider.
What are the Potential Outcomes?
Common outcomes of a Policy Assessment include:
Your Existing Policy is Performing as Expected
About 40% of the reviews we conduct reveal a policy is performing as originally intended. In these cases, the report will recommend continuing the policy "as is" unless your needs have significantly changed.
Your Policy is in Danger of Lapsing Prematurely
Unfortunately, many assessments reveal policies in danger of expiring prematurely. In these instances, the assessment indicates when the policy is expected to expire and offers alternatives for your consideration.
You Can Increase Coverage for the Same Premium and/or Reduce the Cost of Current Coverage
Often the assessment shows that you have the option of either paying less for the same coverage amount or continuing your payments while significantly increasing the amount that you leave to the people and causes you care about.
You can add Additional Benefits and Policy Features that will meet your goals better
Today's life insurance policies have many features and options that weren't available just a few years ago. Options like Secondary (No-Lapse) Guarantees, Long-Term Care benefits, and return of premium provisions are just a few that may make your goals easier to achieve.
The Policy Assessment Process
Complete a brief fact finding appointment and authorization (10-30 minutes)
Analyst will request and receive policy documents from your insurer(s) and reviews the policy information and performance (2-4 weeks)
Analyst compiles final report and recommendations, if any. (1-3 days)
Presentation of the report, discuss the findings, and any specific recommendations (30-60 minutes)
Policy Assessment℠ is conducted by Insurance Valuation Services, Inc., a professional, third-party research firm. Their team of trusted policy analysts includes professionals from the insurance, legal, and financial industries.