Recently, one of our clients asked if we could review an existing life insurance policy for them. The policy had a substantial premium due that he did not wish to keep paying while still taking care of his insurance needs. After a careful analysis and conversations with the insurance company, we found that the policy costs could be paid from the existing cash values even if additional premiums were NOT paid. The analysis and advice we provided is saving our client these premiums while still providing the necessary coverage desired. These results were specific to this case. Each situation is unique and we use our years of experience and expertise to find the best solution for your individual needs.
Did you know that in addition to being a CERTIFIED FINANCIAL PLANNER™ (CFP®), Tim is a Charter Life Underwriter (CLU) with over 25 years of experience assessing life insurance needs and analyzing various policy options for clients? We are qualified to help you make sense of complex insurance statements, conduct a cost-benefit analysis and, if needed, help you find a suitable policy that will meet your needs and budget.
As independent advisors, we work with all major life insurance companies and policy types from simple term life insurance to more sophisticated business and estate life insurance policies, as well as policies needed for business buy-sell agreements.
We hope this information is valuable to you and you will contact us if you or anyone you know could use our help with their life insurance.
Don’t miss our next issue of “Did You Know?” about Wills and Trusts