Life Insurance Expense Reduction Analysis

There is a common misconception that the premium one pays represents the total cost of maintaining a life insurance policy. Unfortunately for many people this is not the case. The premium is only one of several components that, when combined, represent the Real Cost of insurance.

The Life Insurance Expense Reduction Analysis serves to illustrate how to reduce the Real Cost of existing life insurance. The analysis looks at:

The current premium(s) paid each year for the client's insurance
What entity is responsible for paying the premium(s)
Is the current insurance program appropriate for the client's long term goals
Does the existing carrier offer more cost effective alternatives
Are there any outstanding loans against the policy(ies)
Is the insurance performing as originally projected

The goal of our Life Insurance Expense Reduction Analysis is to redesign the client's existing product(s) to better suit his or her needs. This may result through analyzing any one of the above factors or a combination thereof. In doing so, we strive to deliver a superior level of coverage to our client for the lowest Real Cost.

Life Insurance Proposal Review Service

A life insurance proposal represents an estimate as to how much it will cost to provide a set amount of insurance for a specific amount of time, based on given actuarial assumptions. Most individuals believe these projections accurately represent the cost of purchasing the proposed product. This is often not the case since the program design and funding alternatives used may not accurately reflect the goals of the client.

The Life Insurance Proposal Review Service evaluates these components to determine the most cost effective way to structure the coverage:

Is the proposed product appropriate for the client's long-term goals
Are the funding alternatives used in the proposal realistic
Can the proposed product(s) be redesigned to better suit the client's needs
Do competing carriers offer more cost-effective alternatives

The goal of our Life Insurance Proposal Review Service is to provide an independent third party analysis for our client. In doing so we determine if the proposal will meet our client's objectives, and if not we work with our client to redesign a program that will.

Policy Monitoring Service

For many years, life insurance was regarded as a purchase based on guarantees. So long as the insured paid the premium the policy would remain in force. However, today's life insurance functions like an investment; with premium rates and surrender values dependent upon the investment performance of the carrier.

The Policy Monitoring Service is designed to generate annual reports which the insured can use to evaluate their life insurance. The service provides reports which analyze the following:

How is the carrier performing
Is the policy performing at the same level as comparable coverage from a competitive carrier
Could the policy lapse prior to the insured's assumed mortality

The goal of our Policy Monitoring Service is to provide our clients with information regarding the performance of their insurance program. With this knowledge, our clients are able to review and track their policies in the same manner as any other asset.