Let us provide an objective analysis of your client’s life insurance portfolio.

Policy Assessment

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 client’s policy. They may increase the policy's cost or, even worse, cause it to expire during your client's lifetime.

Expired life insurance isn't a rare occurrence. In fact, it's a significant problem. If you don’t review your client’s policies as their trusted advisor, who will? Reviewing your client’s policies may protect you from liability under the Uniform Prudent Investor Act or your state’s fiduciary standards. We can help you offer comprehensive policy assessments for your clients.

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What Is a Policy Assessment?
What Does a Policy Assessment Evaluate?
How Does the Policy Assessment Process Work?
How Do I Get Started?

What is a Policy Assessment?

The Policy Assessment report is an objective, detailed, third-party review of your client’s existing life insurance coverage. We complete this review at no cost to your client. In the report, we'll analyze the most important elements of your client's policy to make sure they're fulfilling the intended purpose within your client's overall financial plan.

Our Policy Assessment is always in your client’s 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 your client 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 and your client alternatives to consider. Click here to see a sample report.

Regardless of the outcome, providing a Policy Assessment assures your client that you have their best interests in mind.

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The Policy Assessment evaluates several critical policy areas:

Is the policy in danger of lapsing prematurely?

Unfortunately, many consumers have no idea that their “permanent” life insurance policies could expire before their death. Why does this happen? Depending on when the policy was purchased, you and your client may have expected the market to behave in a certain way. If it hasn't, that policy may be in danger of lapsing. If not, the interest rates and planned premiums may no longer meet your client's needs. We'll also look at other common pitfalls, like whether the beneficiary, owner, or trustee designations are current.

Is your client paying too much for insurance?

Many times, declining interest rates and economic changes mean that your client could obtain the same coverage for a lower premium. If they can save with a new policy, our report will show you how.

Can your client increase coverage and/or reduce the cost of current coverage?

Often, our assessment shows that your client could either pay less for coverage, or significantly increase their death benefit for the same monthly payment. Plus, today's policies have riders and options that may not have been available when your client made their first purchase. To make sure they're getting the most for their money, we'll investigate options like secondary (no-lapse) guarantees, long-term care benefits, and return of premium provisions.

Has the economy affected the policy itself or the financial stability of the carrier providing coverage?

Over time, carriers merge, change their product focus, or exit the market. As part of our report, we'll look at any significant changes to a carrier's rating and dependability when we provide our assessment.

Is your client’s policy performing as expected?

In forty percent of our reviews, the client's policy performs as originally intended. In these cases, we'll recommend they continue the policy “as is” unless their needs have changed significantly.

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How It Works

Policy Assessment Timeline

Step 1: Complete the brief data sheet and authorization

Gather the information necessary by filling out a brief health questionnaire and authorization form.

Step 2: We compile all information on current policies

With your client’s authorization, we use our relationships with the carriers to contact them directly and gather any information necessary to complete the report. We keep you updated on our progress while we gather the data required for a thorough analysis.

Step 3: We thoroughly analyze your client’s situation

Our in-house experts analyze every detail of your client’s existing coverage, identifying issues that may be important to them. In addition, we search all the top insurance carriers to see if there are better solutions your client may want to consider. Because every client's goals and objectives are different, each report is unique.

Step 4: We deliver the report directly to you

When the report is ready, we deliver it to you. As a result, you're in control of how you present that information to your client. We're always available to walk you and your client through any of our recommendations.

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Getting Started

Have questions? Call or email your Brokerage Director today.

  • Call us at 1-800-823-4852 and ask to speak to a brokerage director.
  • Click here to email us.

Ready to get started? Download our Policy Assessment materials now:

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