Life Insurance Audit
Audit Triggers
WHAT EVENTS SHOULD TRIGGER A LIFE INSURANCE AUDIT?
- Trust Owned Life Insurance policies should be reviewed about every four years
- The need for life insurance increases or decreases
- Family or business situations have changed
- Policy interest rates, dividends, or investment returns have declined
- The insured’s health has improved, offering for potential savings in policy expenses
- The insured’s health has declined, confirm current policy values
- The policy has outstanding loans, requires policy changes, or is nearing the end of its conversion period
Get an audit...the good kind.
The Process
What is the process?
- Order and review all in force life insurance policy statements
- Analyze current premium funding level and frequency
- Review projected guaranteed and non-guaranteed policy values
- Investigate for possible medical underwriting class improvement to reduce policy expenses
- Evaluate policy conversion options (if applicable)
- Assess industry rating bureau reports of insurance companies
- Review new products or riders that may enhance your coverage
What we’ll provide:
- A review of in-force life insurance relative to current needs
- An analysis of current policy funding
- An investigation seeking improvements in your medical underwriting classification
- An analysis of your policy’s performance compared to illustrations at the time of the sale
- An assessment of the current ratings of each insurance company owned
- A comparative analysis of your policy and policies currently available in the marketplace
- Professional decision making support
We believe careful review, analysis, and recommendations will result in the optimal insurance solution for you and your family.