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Why is it necessary to perform Life Insurance Audit?

When you purchase your policies, you may have made certain assumptions about policy charges, interest rates, planned premiums, and other issues.  But life is constantly changing.  The original reason for your purchase may still exist, yet your needs have changed, requiring more or less coverage.  That’s why it’s so important to regularly review your life insurance coverage.  A new family situation, a different career, a shift in financial status – any of these common events, plus many others, should trigger a re-evaluation.  Do the life insurance choices you made years before still make sense now?


A Life Insurance Audit can bring insight into your life .

A Life Insurance Audit offers an excellent opportunity to make sure your insurance coverage fits your current needs. It’s always a good idea to review your situation every few years to ensure all of your needs are being met. 

Your advisor will talk with you about your existing policies in relation to your original and current goals.  Information about your policies will be gathered and several illustrations will be requested from the issuing companies to see if your life insurance is on track, and if not, what is necessary to bring it up-to-date.  After all information is received, your advisor will review the findings with you.  If changes need to be made, you will be offered suggestions to adjust your current policy or advised of alternatives to help reach your goals.


The Life Insurance Audit Process

A Life Insurance Audit is a multi-step process that provides you with a comprehensive evaluation of your life insurance coverage and incorporates the following information:

  • A review of in-force insurance policy or policies, relative to current needs.
  • Analysis of whether the existing policy still meets your needs and whether the policy’s funding should be adjusted.
  • An investigation into possible improvements in your medical underwriting class based on your current health and recent medical underwriting reclassifications.
  • An analysis of your policy’s performance, compared to illustrations made at the time of sale.
  • An assessment of the financial stability of the current life insurance carrier.
  • A review of new products or riders that could enhance your coverage.
  • A clearly explained list of all options.
  • Decision-making support from a Life Audit professional.

When should you consider a Life Insurance Audit?

Your life insurance is one of the most valuable assets you ca known.  Consider a Life Insurance Audit when:

  • Your need for life insurance has increased or decreased.
  • Extended periods of low crediting rates have affected policy performance.
  • Your policy requires higher premiums or an increased premium payment.
  • Your health has improved, qualifying you for a better rating.
  • Your family or business situation has changed.
  • Loans, withdrawals, or other policy changes have affected the policy’s performance.
  • Premiums have not been paid as planned. 

We all understand the need to periodically visit our doctors to get a physical check-up.  The same is true about periodically reviewing your life insurance every few years and a  Life Insurance Audit  offers an excellent opportunity to make sure your insurance coverage fits your current needs.

Call for a 
free no obligation
 Life Insurance Audit:

978-283-5131 Ext. 202
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