Life Insurance Planning & Reviews
You check your monthly bank statements, review your investment portfolios and you track your retirement plans. Why should your life insurance coverage and its death benefit - which often provides income protection for your family and upon death, a liquidity source to shield other assets - be any different?
You recognized your need for life insurance and purchased a policy with the coverage and features that best suited your needs. However, are you sure that policy is still accomplishing yours goals?
Make Policy Reviews a Habit
If you realize the importance of life insurance in you financial plan you should realize how important it is to make sure the coverage is adequate enough to meet you goals. Only a regular review of your coverage with your financial professional can help ensure that your goals and current coverage are still aligned.
A policy review is not always a precursor to purchasing additional coverage. In actuality, there are four potential outcomes to a policy review:
- Coverage Effectively Meets Goals
- Coverage Ineffectively Meets Goals
- Coverage Exceeds Current Needs
- Coverage Does Not Meet Current Objectives
Review Components
A proper policy review involves more than a simple death benefit analysis, though that is an important part. Your financial professional will review all aspects of your coverage.
- Annual Premiums
- Ownership Structure
- Beneficiary Designations
The Benefits of Working With Your Financial Professional
On the surface, it may seem like life insurance is something you can purchase and then either forget or self monitor. As a matter of fact, it may have been several years since you have had an update on the current status of your life insurance contracts. However, as you can see, a proper policy review is an individual process. Your financial professional can simplify it for you by knowing where to look, what to look at and how to analyze it. And, should changes be needed, your financial professional can facilitate the process. It is essential to keep this significant part of you overall financial plan from becoming obsolete and ineffective. By setting aside some time for an annual policy review appointment, you may save your beneficiaries a lot of time, aggravation and money, later.
Our financial professionals at Ulster Savings Bank have over thirty-five combined years of experience in the life insurance industry. We would appreciate the opportunity in reviewing your life insurance holdings and assisting you in updating this important, but sometimes neglected, piece of your financial plan.
For details contact Insurance Representatives Richard Spriggs or Kelly Maroney at (866) 440-0391 Ext. 3232.
 |
 |
PRIMEVEST Financial Services, Inc. is an independent registered broker/dealer and registered investment adviser. Member FINRA/SIPC. Securities and insurance products offered by PRIMEVEST: *Not FDIC insured * May go down in value * Not financial institution guaranteed * Not a deposit * Not insured by any federal government agency. Advisory services may only be offered by Investment Adviser Representatives in connection with an appropriate PRIMEVEST Advisory Services Agreement and disclosure brochure as provided. * Neither PRIMEVEST nor any of its representatives may give legal or tax advice. FINRA Registered Branch: 180 Schwenk Drive, Kingston, N.Y. 12401
View PRIMEVEST privacy policy and other important information.
Investment Executives are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with residents of other states will only be made upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States.
