This is a catch-phrase that we have all heard. It is usually associated with a particular brand of footwear. Today we are going to apply it to your life insurance!
"Just Do It" - arrange for a life insurance audit TODAY. You may reap significant benefits.
Many of us have old life insurance policies that sit in our safe deposit box, and we don't even think about them. Or, maybe they have come back to haunt us in the form of receiving a notice that the premium is going to go up, or that the death benefit is going to run out early. In many cases we don't even understand if we have too much life insurance or not enough.
The good news is that in recent years the life insurance business has become more competitive, and new mortality tables are being used. This has resulted in opportunities to review current policies for suitability and possible improvement. For instance, a review may find that you can do a tax-free exchange into a new policy that for the same premium gives you a higher death benefit. Or, an exchange into a new policy that reduces or eliminates your premium.
By working with your Financial Advisor, part of the audit process can include an analysis of your financial situation and goals to determine how much insurance you actually need.
Insurance can replace our income for the surviving person(s) we love in the event of our passing, it can make life easier by allowing them to pay-off debt, it can take care of children, as well as many other uses. Our unique needs determine what type and how much, if any, insurance is appropriate.
So, "Just Do It". Arrange for a life insurance check-up today.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).