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:

  1. Is a higher rate of return available to me through a new policy?
  2. May I get a higher death benefit with a newer policy?
  3. 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.