Life Insurance Policy Review Template

Life insurance presents unparalleled business opportunity.

Life insurance policy review template. The state of our economy has led to. A life insurance policy review is a great way to enter into a dialogue with your client and can be incorporated into initial planning or regular reviews when significant life changes have occurred. For life insurance keep track of the total death benefit and any additional riders such as a waiver of premium in the event of disability or the ability to access the death benefit early in the case of being diagnosed with a terminal illness. At a minimum reviews should be scheduled in three to five year intervals to ensure coverages.

A life insurance policy review is your golden opportunity to assess your existing plan in order to identify any gaps in coverage resulting from a change in your circumstances your health or the financial needs of your beneficiaries. Administrative changes address or other contact information changes. Most insurance professionals recommend a life insurance policy review on an annual or bi annual basis to see if any of the following changes you made would impact your policy. The in force illustration should be run as follows.

Life insurance policy review. The word change was more than a campaign slogan this year. Policy review authorization to. It also gives you the chance to dust off old policies and confirm that your beneficiaries are up to date that the policy is performing as intended and that the coverages will be in effect when you need them.

You always want to check this during your review as the client may request a change. When you get to question 7 are you currently carrying any life insurance and are you still paying premium on it the conversation should start up naturally. Remember to include a review of your life insurance policy to ensure you have adequate coverage while determining if you have the right type of life insurance to meet your short and long term goals. Pertaining to me and any of my life insurance policies.

While this is a simple change you would be surprised by how many people don t notify the insurance. Please forward a current status cash values loans etc and an in force illustration on the above referenced insurance policies. In creating a document for life insurance commercial insurance home insurance car insurance general insurance etc it is essential that you have a strong attention to detail. Lastly review the details you input in your formal document and make sure it is free from errors.

If you re jotting all of these details down it can be handy to type them up and give the print out to your client once the review is complete.