The basis of our life insurance audit lies in our belief that most people are overpaying for life insurance. Like other financial instruments life insurance is an asset that must be managed and generally is not. This belief arises from consistent industry improvements in product, pricing and longer life expectancies. Because of these continual changes (for the better), we’ve developed a process which thoroughly scrutinizes every detail of your in-force coverage and identifies potential areas of improvement.
We analyze the underwriting, the current product and the goals of our clients. Once we have assessed the potential weaknesses and/or strengths of our client’s in-force policies, we carefully compare the current policy against some of the best available products in the marketplace today that fits their needs. A recommendation is then given to either maintain the current policy or move to a more effective plan.As people age, their needs change our review process makes sure the policy fits the need.
We have seen many instances where people have been sold several small policies over the years. This is called stacking. This is a way agents increase your total coverage in gradual increments as income or needs increase. Most people aren’t aware of the added expenses to their insurance costs when this happens. Savings may occur when several policies are reduced to one. Within each policy, there is a policy fee and separate internal costs. By taking several policies and combining them into one, a significant savings usually occurs.
Our goal is to offer a better alternative to fit the current and future needs of our clients, by scrutinizing current in-force policies and negotiating for better, more cost effective options. The options may include reducing premiums through more cost effective programs, or being able to increase the benefits of the plan for the same cost.
In conjunction with the above our relationship with M Financial provides significant experience and purchasing power as well as proprietary products and inforce policy management.