Is it time to review your policy?
Life insurance is hard.
It’s hard to know if you have the right kind.
It’s hard to know if you have enough.
And it’s hard to know if you need any at all.
The insurance companies have made it even harder by coming up with bewildering names: whole life, term life, universal life. Some life insurance policies have a cash value while others don’t. Some invest that cash value in the stock market while others pay a fixed rate of interest. Some insurance policies combine all of these ideas.
This may be one reason why a recent study by the National Association of Insurance Commissioners found that about 40% of people don’t review their life insurance annually.1 In my experience, that number seems to be even higher. But no matter what the exact number, a large portion of Americans may simply be paying for insurance that’s not right for them.
That is why it’s important for you to sit down annually with an insurance professional to review how your policy works and how it will help you to protect your family.
When you’re young, a certain type of policy is needed. As you raise a family and take on more responsibilities, your needs change again. At some point - when the nest is empty or other life changes occur - there may come a time where you don’t need life insurance at all or you may desperately need it to protect your estate. Reviewing your life insurance policies is one way to make sure you have the coverage that is right for you and your family now, today – not when you bought it.
When is the last time you thought about your life insurance?
Is it time to take another look?
1 http://www.pregnancytoday.com/articles/life-insurance/the-facts-of-life-insurance-4315/ [02/18/10]
hi this article is very informative.. i enjoyed reading it. its very interesting.
Posted by: Brian Carter | June 21, 2010 at 02:38 AM
Thanks for the post, the thing is though, life insurance aint that hard, all you need do is consult a decent broker.
Posted by: Inheritance Advice | September 10, 2010 at 10:06 AM
Brokers have a useful role to play in the distribution process. The terminology the industry [like most] comes up with is a tad daft, but brokers are there to act as interpreters.
Posted by: Avoid Care Home Fees | October 16, 2010 at 06:43 PM
Great blog it really does help out a bit. Looking forward to more questions being answered.
Posted by: term life insurance calculator | October 28, 2010 at 07:35 PM
Life insurance agents are supposed to explain the options and help us to understand our own needs and how life insurance can help then back off to let you make your own decisions pertaining to the type and amount of insurance policy you wish to carry. These are important considerations of many life insurance agents are paid on commission. so it is in their tendency to push higher priced policies on consumers.
Posted by: Legal advance funding | November 03, 2010 at 06:01 AM
I couldn't agree more. It's important to really do your research before signing any life insurance policy. There are many places you can get quotes online in order to find a policy that is affordable for you and your family.
Posted by: life insurers | November 04, 2010 at 04:34 PM
Life insurance is one of those things that make you think. Do I want to pay for something for 10 years and never use it? If I wait 10 years to get it, it will be more expensive and I wil probably need it then. What to do?
Posted by: J. Jones | May 09, 2011 at 06:45 PM
I agree with you. This type of projects should be encouraged and I think that these type of projects are the projects for the future. . . . .
Posted by: Raise My Credit Score | June 22, 2011 at 12:33 PM
Great article. Looking forward to more questions being answered.
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Posted by: Financial Advisor Jacksonville FL | August 13, 2011 at 02:35 PM
You are really showing people the true picture of all these insurances. It's a prime thing to review a policy before getting one, don't just take it for the sake of it or just the name of it.
Chris Harris
Posted by: Workers compensation policy review | September 23, 2011 at 04:05 AM
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Posted by: Erika | October 10, 2011 at 02:01 PM
When it comes to me I am still new financial investment. And i want to know that is it possible for people to secure the post retirement life my investing little bit each month if one don't have much earning.
Posted by: Financial planning advisor | November 14, 2011 at 10:56 AM
i think that life Insurance is a very important thing, because our life is such a fragile thing.
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this is something that has been over looked for many years.
Posted by: Commercial Insurance | March 16, 2012 at 01:27 PM
When it comes to me I am still new economical financial commitment. And i want to know that is it possible for individuals to protected the publish pension lifestyle my committing little bit on a monthly basis if one don't have much generating.
Posted by: jacksonville financial planners | May 03, 2012 at 10:31 AM
It's a prime thing to review a policy before getting one, don't just take it for the sake of it or just the name of it.
Posted by: nike shox pas cher | June 05, 2012 at 03:24 AM
A life insurance coverage cover coverage providers are supposed to explain the options and help us to understand our own needs and how lifestyle insurance coverage can help then back off to let you make your own choices associated with the type and amount of insurance coverage cover you wish to carry. These are important considerations of many life insurance providers are paid on commission. so it is in their tendency to push more expensive policies on consumers.
Posted by: florida life insurance | July 26, 2012 at 09:18 AM
Good article!
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Posted by: Stock transfer agent | September 13, 2012 at 06:17 PM
Hi Hills, I agree with you. large portion of Americans may simply be paying for insurance that’s not right for them.
Posted by: information arbitrage | October 17, 2012 at 05:21 PM
Thanks for posting! I agree that it is hard to know whether or not you have the right insurance, because there are so many choices. There are a few things that are that way, including also finding a reputable asset tracking software for your company. Great post.
Posted by: Cecilia | October 22, 2012 at 08:55 AM
Now I know how important it is to sit down annually with an insurance professional to review how your policy works and how it will help you to protect your family. Thanks for the information.
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