Most agents do not offer free life insurance reviews and I do not understand why. You’ve put in the work – you made plenty of comparisons when you shopped for your life insurance policy a few years ago. You diligently listened to so many reliable opinions in order to find who and what is the best out there. You ended up with an excellent life insurance policy for your family. Your work is done! Well, maybe not.
Remember when you originally bought your life insurance policy? You look at all of the different types to choose from, you weighed all of the options, considered the pros and cons. After finally deciding which type you wanted, you bought your policy. You felt the relief knowing that your family was going to be taken care of if anything were to happen to you. You can’t put a price tag on the peace of mind that you felt because of that policy. But, maybe things are the same as when you originally bought that policy. Life throws us curve balls every day.
For most of us, life is full of changes – many unexpected in nature. Along with these changes, your life insurance needs change as well. It may be wise not to look at life insurance as a one-time purchase. Life insurance reviews such as with New York Life should be done periodically by all policyholders, at least every few years and certainly a review should be done after major life events. For your convenience we have posted several reviews of life insurance companies, such as Primerica Life Insurance, New York Life, Banner Life Insurance and AARP to name a few.
Reasons to Conduct Life Insurance Reviews
- Changes to your health
- Explore other life insurance policies that may be more affordable for you
- Compare the latest Term vs. Permanent life insurance policies
- Confirm that your family has the best protection, given your budget
- Your goals may have changed since you purchased the policy
Working with an experienced life insurance broker can help greatly when you conduct your life insurance review. You may have built up the cash value of an existing life insurance policy to such a level that it can be used to purchase a policy that makes more sense for your family at this point in your life. Perhaps it’s time for a policy that has a higher death benefit but also offers you lower premiums.
Then again, what if your policy’s cash value was under-performing? Interest rates have remained low for several years now. Say the cash value is now projected to run out long before the age of 100 Life Insurance Reviews. If you didn’t conduct a life insurance policy review, chances are you wouldn’t have noticed.
Life insurance is one of the most important purchases that you’ll ever make for you and your loved ones. It’s one of the only ways that you can ensure that they are taken care of if you were to pass away. Because it’s such a huge decision, it’s vital that you make the best decision for your family, using insurance reviews is a great way to do that. If you want to make the process as easy and painless as possible, I suggest working with an independent agent.
As an independent agent, I can represent dozens of different life insurance companies, instead of only being able to give you quotes from one specific company. This makes finding the perfect company much easier. Because very company is different, all of them can look at an application through different eyes and different experiences, which means that an applicant could receive drastically different monthly premiums for the exact same policy.
Aside from the major event I listed above, there are several common reasons that you should conduct a review of your insurance policy. The first is that you’ve had a child, or your child has moved out. If you’ve had a child or another child, you might find that you don’t have enough life insurance for your family and it’s time to purchase additional coverage. It’s vital to your family members that you have enough life insurance coverage in case of a tragic. At the other end of the spectrum is parents who have had children move out of the house and no longer rely on your salary. If your children don’t live under your roof, you might find that you can actually lower your life insurance coverage and save money every month.
Another major even that could drastically change your insurance needs is your home, more specifically your mortgage. One of the main goals of a life insurance policy is to pay off your mortgage if you passed away. If you’ve paid off your mortgage since you originally purchased your policy, then your insurance needs are drastically lower than they were to begin with. Or there is the other option that your mortgage is actually higher than it was before.
If you’re looking back on your life insurance purchase and trying to decide if you’ve bought enough, there are several different factors you can consider to help you decide. As I mentioned, your mortgage is a huge factor, but you should also add up all of your other debts as well. Be sure to add up everything from your car payments to your funeral expenses as well. Not having enough life insurance for your loved ones can leave them with massive bills that they don’t have the funds to pay off. We show here our Life Insurance Reviews.
The other factor that you need to consider is how many people rely on your salary. If you were to pass away tomorrow, would your family struggle to pay for basic expenses. The other main goal of life insurance is to give your family the funds they need to find a way to permanently replace your income without experiencing any significant financial burden.
Getting the Best Life Insurance Rates
Maybe you’ve realized that you’re paying too much for life insurance, don’t worry, millions of Americans are. If you’re looking to get the rest rates on your insurance policy, there are several ways that you can do that. The first is by working with an independent agent, like myself. It’s vital that you find the perfect company and compare different quotes, which I can help you do and save you time doing it.
But this isn’t the only way to keep more money in your pocket. As I mentioned earlier in the post, your health is going to have a huge impact on your monthly premiums. One of the best ways to save money on your policy is by focusing on your health. Unless you choose a no medical exam policy, your overall health could either save you money, or cause your premiums to go through the roof. It’s time that you started a diet (and stick to it) and start using that gym membership that you’ve had for a year and never used. Both of these will help you lose weight, lower your blood pressure, and also lower your cholesterol, all of which will translate into lower monthly premiums for your coverage. D
Additionally, if you were a smoker when you applied for your original policy, Life Insurance Reviews, it’s time to kick that habit, reapply, and enjoy some serious savings. If you’re a smoker, you can expect to pay AT LEAST double what a non-smoker is going to pay. We all know the consequences that smoking and using tobacco has on our health, and the life insurance companies know as well, which means that have to offset that additional risk by charging you more every month. If you want to get the most affordable policy possible, kick those cigarettes once and for all.
As your life insurance broker, I recommend that you proactively conduct life insurance reviews annually, its free and only take a few minutes. Call me at 877-400-0484 for a free review of your current policy. Together we can make sure that your current policy best fits your family’s needs.