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After 19 years in the life insurance industry, I have observed that many owners of in-force life insurance policies are not paying attention to what’s been happening to their policies.

Many policies have not performed as originally projected because of the current low interest rate environment. Older policies are still charging the cost of insurance based on older life expectancy tables.

The fact is, the biggest mistake people are making is the assumption their policies are guaranteed, most are not!  That’s why it’s so important to have a policy audit to evaluate your current policy.

The Big Problem!

Underfunding the Policy:  The crediting interest and dividend rate at the time of purchase was 4% to 6% higher than the current crediting rate of the policy.  No adjustment to the premium amount has ever been made.  The policy is greatly underfunded, and will lapse well before the insured’s projected mortality, unless significant premium payments are added to the policy today.

The Solution!

Audit the Policy:  As with all product progression, life insurance products have become more efficiently priced and flexible in nature.  In addition, there are many variations of products available that can serve as wonderful alternatives to older policies that are not performing, or were never structured properly.

That is why a life insurance policy audit can yield surprising results to uncover whether or not your policy will die before you do!


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