6 QUESTIONS THAT SHOW YOUR LIFE INSURANCE POLICY COULD USE A SECOND LOOK
Many people don't realize that they should have their life insurance policies reviewed every year. At Leonard Wealth Management, we offer this for our clients annually. However, we also offer this important review for policies issued by other companies. Here are six important reasons why.
1. DO YOU HAVE ENOUGH COVERAGE?
According to LIMRA's 2018 Insurance Barometer study, nearly 60% of all Americans had life insurance in 2018 and 25% of those people felt they were underinsured* We can help you verify that your family has adequate coverage to replace income and meet other financial obligations.
2. IS YOUR DEATH BENEFIT ENOUGH?
This may be an issue if you're earning more today than you did when you first purchased your policies, or if inflation/lifestyle changes have increased your cost of living.
3. HAVE YOUR BENEFICIARIES CHANGED?
Divorce, marriage, and childbirth can all affect how life insurance policies should be set up.
4. ARE YOU OVERPAYING FOR LIFE INSURANCE?
Lifestyle improvements, medical breakthroughs and increased life expectancy mean some new policies have lower expenses than existing policies.
5. ARE YOU WORRIED THERE MIGHT BE SOMETHING YOU DON'T KNOW ABOUT YOUR POLICY?
If you bought your policy a while ago and aren't quite sure what the policy includes or provides, we would be happy to do a review for you to determine all of the options your policy has available for you and if you would benefit from accessing those options now or in the future.
6. WILL YOUR LIFE INSURANCE IMPACT YOUR ESTATE?
We find that many people are unaware of how a life insurance payout will affect their beneficiaries. We can perform a full review of your estate tax liabilities to ensure you are set up to protect your estate from taking an unnecessary hit.
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Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Leonard Wealth Management are not affiliated companies. Investing involves risk. including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Any references to protection benefits, safety, security, or lifetime income generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims paying ability of the insurance company. Our firm does not provide tax or legal advice. Please consult with a qualified professional before making any purchasing decisions. Our firm is not affiliated with the U.S. Government or any governmental agency.
Life insurance policies are contracts between your client and an insurance company. Life insurance product guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Life insurance policies are not FDIC Insured. Index universal life products are not an investment in the "market" or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance. Life insurance riders may be available for an additional annual fee; riders may not be available in all states. 468378