Life insurance plays an important role in the completion of your client’s financial plans.  Whether it’s to protect their family, fund an estate tax bill, or complete a benefit plan; life insurance is often a necessity in reaching your client’s financial objective. As a financial professional one of the commitments a you make to clients is to monitor the client’s life insurance needs and existing coverage over time. Conducting a Personal Policy Review Analysis once every three to five years is a critical part of that ongoing obligation to make sure your client’s life insurance policy(ies) are keeping pace with their ever-changing needs.

What does a Personal Policy Review Analysis consist of?

A life insurance review consists of two main elements: (1) a review of the client’s current life insurance needs, followed by (2) an analysis of the clients existing life insurance coverage to determine if the death benefit coverage and the type of policy is still appropriate.

The Benefit of conducting a Personal Policy Review Analysis

Conducting a Personal Policy Review represents a great opportunity to further your client advisor relationship; building trust; uncover the need for additional life insurance on the client and or close friend or family member; and create a window for referrals.

EIGHT EASY STEPS TO REVIEWING YOUR CLIENT’S POLICIES:  

1. Determine whom you will contact. In other words, who should receive a review?

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