TIME FOR A POLICY MAKE-OVER?
As your financial planning and insurance needs change, it may be time for a policy make-over. Why consider a policy make-over? Depending on when you chose your policy, there may be new options that provide more cost-effective solutions than your current policy. Section 1035 of the tax code even allows tax-free exchanges of certain policies.
Here are just three basic questions to consider when reviewing your current policies:
- Is a higher rate of return available to me through a new policy?
- May I get a higher death benefit with a newer policy?
- I no longer need my current policy; may I exchange it for another policy with a more favorable opportunity for lifetime income?
Does your policy need a make-over? Your personal retirement distribution professional or tax professional can help you answer this question through a policy audit review. This should be a complimentary service to help you identify whether everything is just fine, or whether you may be holding a policy that no longer suits your planning goals or financial situation.