Why You Should Do Policy Review

Life insurance, like any financial asset, should be reviewed on a regular basis to make sure it is still meeting clients’ objectives. One of the most important functions we can perform is to monitor if clients’ life insurance policies are still applicable given their current financial and future goals.

Gateway and BUA’s convenient step by step approach makes it easy for you to:

Recognize the changes in client lives and in the life insurance industry, which can trigger the need for a Policy Review.
Record existing coverage and conduct a comprehensive analysis.
Provide a report showing any need for additional coverage and/or policy changes to adapt to current circumstances.
Potentially save your clients money on premiums by updating policies to reflect positive health changes, new mortality tables, current tax laws, interest rates and more.

Gateway and BUA look forward to working with you to provide this valuable service to your clients. To get started, complete the appropriate fact finder and inforce authorization. Once we have access from the carrier we will be able to provide an inforce Illustration to show how the policy is projecting today. We will verify current beneficiaries, premiums and when they are due, who owns the policy, and if there are any other policy features of note.

Then we write up a policy summary and compare it to the current market of 25+ carriers that we represent. We will come back to you with an analysis of what we’ve seen, and let you know if there are ways for the client to improve their current position. We will even point out some of the current market features that weren’t available when the policy was purchased.

This review can increase your client satisfaction and retention, uncover sales opportunities, generate referrals, and build relationships through policy review with Gateway and BUA.

Please reach out today to get started!