Life Insurance: Time to Review Your Policy | The Retirement Group: Your Partners In RetirementProvided by The Retirement Group.
Life insurance is hard.
It's hard to know if you have the right kind.
It's hard to know if you have enough.
And it's hard to know if you need any at all.
The insurance companies have made it even harder by coming up with bewildering names: whole life, term life, universal life. Some life insurance policies have a cash value while others don't. Some invest that cash value in the stock market while others pay a fixed rate of interest. Some insurance policies combine all of these ideas.
This may be one reason why a recent study by the National Association of Insurance Commissioners found that about 40% of people don't review their life insurance annually.1 In my experience, that number seems to be even higher. But no matter what the exact number, a large portion of Americans may simply be paying for insurance that's not right for them.
That is why it's important for you to sit down annually with an insurance professional to review how your policy works and how it will help you to protect your family.
When you're young, a certain type of policy is needed. As you raise a family and take on more responsibilities, your needs change again. At some point - when the nest is empty or other life changes occur - there may come a time where you don't need life insurance at all or you may desperately need it to protect your estate. Reviewing your life insurance policies is one way to make sure you have the coverage that is right for you and your family now, today not when you bought it.
When is the last time you thought about your life insurance?
Is it time to take another look?
This does not constitute an endorsement by John Jastremski, The Retirement Group or the author of the book. The opinions expressed are solely those of the author and may or may not be a representative opinion of The Retirement Group or John Jastremski.
These are the views of Peter Montoya Inc., not the named Representative nor Broker/Dealer, and should not be construed as investment advice. Neither the named Representative nor Broker/Dealer gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If other expert assistance is needed, the reader is advised to engage the services of a competent professional. Please consult your Financial Advisor for further information.
John Jastremski, Jeremy Keating, Erik J Larsen, Frank Esposito, Patrick Ray, Robert Welsch, Michael Reese Philip Catalan, Brent Wolf, Andy Starostecki, The Retirement Group, AT&T, Verizon
1 http://www.pregnancytoday.com/articles/life-insurance/the-facts-of-life-insurance-4315/ [02/18/10]
We are a group of financial professionals who focus entirely on retirement planning and the design of retirement portfolios for the corporate transitioning employee.
For free information:http://theretirementgroup.com/new/retiregroup2/content.asp?contentid=2016566828
Life Insurance: Time to Review Your Policy | The Retirement Group: Your Partners In Retirement
By: AdminAbout the AuthorJohn Jastremski is a Representative with QA3 Financial and may be reached at The Retirement Group 800-900-5867Visit us on the web:http://www.theretirementgroup.com (ArticlesBase SC #3333426)