The Friedman Blog

Posted on 08/28/2019, by Jeremy Edsall

Review Your Life Insurance Policies During Life Insurance Awareness Month

Most Advisors agree  -  Life Insurance is the most Valuable Asset in a person’s estate. It provides what is most needed, Liquid Cash, at precisely the time it is needed. Most proceeds are received Tax-Free and may have strong protections Guaranteeing the benefit cannot be taken by other creditors. Problems arise when changes during your life may impact the policy’s efficiency to perform.

In support of Life Insurance Awareness Month this September, we are offering an In-Depth Policy Review service. There is No Obligation or Cost.

Why should you consider a proper Policy Review?   

Confirm Beneficiary Designations
A simple matter, but the primary source of many problems if incorrect.
(Avoid Unintentional Disinheritance)

Original intent of Coverage may have changed
Rarely do situations stay the same. You could need more, or you could need less

Lower Mortality Costs in newest policies
You might find lower premiums even though you are older

Changes in Family Status or Size
May conflict with prior planning. Such as, 1993 changes in Virginia Divorce statutes may automatically revoke prior Primary Beneficiary designations

Lack of coordination with other Legal Documents;  Wills, Trusts, Business Agreements
Improper policy specifics may conflict and render documents ineffective

As our way of Thanking You in advance we are providing a Beneficiary Organizer. This tool will allow you to record every asset you have and who is currently listed as the recipient of same property. Important information to have on hand in an easy-to-access format.

Please click HERE to download the PDF file (Beneficiary Review & Organizer.pdf).

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