I have been in the life insurance business now for 45 years, and one of the things that continues to give me serious concern on an ongoing basis is the lack of attention to beneficiary designations.

I’m not just talking about beneficiary designations on Individual Life Insurance policies one of us may have sold (although they often control the largest number of dollars), but also to all of the following:

· Beneficiary designations on Employer-Provided Group-Term Life Insurance

· Beneficiary designations on Association or Union-Sponsored Group-Term Life Insurance

· Beneficiary designations on Military and other Government Life Insurance policies and benefits

· Beneficiary designations on Life Insurance acquired through AARP or similar channels

· Beneficiary designations on Business-related Life Insurance policies (Buy-Sell, Key-Person, etc.)

· Beneficiary designations on Immediate or Deferred Annuities

· Beneficiary designations for Death Benefits under Qualified or Non-Qualified Retirement Plans

· Beneficiary designations on IRA Accounts

· Beneficiary designations on Bank Accounts and Securities Accounts

Do you get the idea? I’m talking about ANY type of asset that allows the owner to designate the beneficiaries for any amounts payable at death. After all, these assets often comprise the major portion of an individual’s total net worth!

Of course, the ideal way for an individual or couple to handle this is to have a formal estate plan, preferably in a revocable living trust (with all of their assets titled in the name of the trust), but at least in a valid and up-to-date Will, and then to have all of these assets payable to the living trust or in some other consistent manner that makes sense and is efficient to carry out at death.

I suggest that all of you start by looking at your own individual situations. I’m willing to lay odds on the fact that very few of you will find that everything you own is set up the way you really want it to be, and that you need to bring many of your own beneficiary designations current with your current situation and desired dispositions at death.

Life is extremely fluid, and everyone’s family and business situation is constantly subject to change. It is essential, therefore, that everyone’s beneficiary designations on everything they own be kept current and up-to-date. As I said, I suggest you start with your own personal situation.

Then, to get 2010 off to a roaring start, systematically contact everyone you know - clients, friends, neighbors, your doctors and dentists, the professionals you deal with, the businesses you do business with, anyone you can think of - and offer them an absolutely invaluable service that nobody else has ever offered them: a through and impartial review of everything they own with a single purpose in mind, to make sure that everything will happen exactly as they wish when that ultimate last day of life arrives, be it tomorrow or when they’re 110 years old!

This ties in perfectly with Provada’s comprehensive Policy Review program, and I can assure each and every one of you that it will lead to a lot of significant new product sales!