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Optimize your policy with a Life Insurance Audit


The life insurance industry is always changing and with it so should your life insurance policy.  The objectives when we purchase life insurance may have changed. Therefore it is important not to ignore life’s milestones and changes in the market that could present more flexible policies with better protection; something that can be analyzed and accomplished with a life insurance audit. 


What exactly is a life insurance audit?

To put it simply, a life insurance audit impartially evaluates life insurance policies to to identify any deficiencies in coverage, beneficiary designations and policy ownership.  A life insurance audit will project the future effectiveness of each existing plan as well as allow you to compare rates and guarantees from the rest of the insurance marketplace.

The result of a life insurance audit can be policy options that offer increased benefits at the current level of funding, lower premiums with the same coverage or even an extended guaranteed coverage.


What factors effect life insurance policies?

There are many factors that can lead to a change in the life insurance market; one major factor is that people are living longer due to medical advances and health consciousness, which results in policies that are priced better.  Also, the new products life insurance companies are constantly developing can come at a lower cost, while possibly providing you with more substantial coverage than your old life insurance policy.  Lastly, it is important to understand how interest and dividend changes affect the life insurance industry and your policy.


Why might I need an updated life insurance policy?

There are a variety of things in your life that might require you to reevaluate your current life insurance policy in order to remain fully covered.  Here are some factors that may require you to update your current life insurance policy:

  • The birth of a child or grandchild
  • Asset changes from stock market volatility
  • Estate Plan changes
  • Buy-Sell & Key-Person Business modifications
  • Marriage/Divorce
  • Deferred Compensation Agreements

Ultimately, everyone can benefit from a life insurance audit, it provides you with the tools to get the protection you need, for both your present needs and your future plans, all at a competitive rate.


At Cambridge our goal is to help you get the life insurance policy that meets your needs and is also cost-effective.  Contact us, and allow us to give you an unbiased insight into the ever-changing life insurance industry as well as provide you with crucial information that will help you to make a truly informed decision.


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Arthur Grutt