Who's looking after you
And we thought the investment world was confusing. There are really two important areas of insurance planning.
- The most obvious is current needs fulfillment. We can certainly provide analysis and quotes to set up insurance as needed.
- The second is reviewing.
Over the years insurance companies have been bought out, changed names and they seem to change and introduce product like it was underwear. Years ago career agents were hired by single insurance companies and went door to door selling only that company's product. Today independent agents using technology can shop the markets for their clients to get them the best product and prices. Perhaps you could save money on a new policy.
Over the years many people have bought policies they have forgotten about or perhaps pay for but no longer require. Agents have come and gone and people have relocated and no longer have contact with their old agents. When information is not kept up to date there is a great risk that a claim may not be paid. If cancelled, lapsed or replaced insurance policies are left in drawers, file cabinets or safety deposit boxes, the estate will pay heavily to research to find which ones are current. Part of insurance planning is keeping the information current. We can help.
Perhaps you, or more likely your parents took advantage of buying paid up whole life policies in the past and have no idea what you even have. Did you receive a letter about demutualized shares some years back? Did you do anything about it? It could be worth a lot of money. Perhaps you are paying for insurance and don't know if you should be or are you confused by what the coverage actually is.
Regular review of your insurance is important. Not just personal life insurance policies, but all those little extra insurances like creditor, life, accident, payment-protector sold through all the different charge cards and retail stores. Make sure you are not paying premiums on insurance you can no longer collect on.
Talking about life insurance is uncomfortable. Not keeping your policies up to date can be extremely costly.
Millions of dollars of unpaid claims exist in this country. The time spent today getting your insurance plan in order, is time well spent.