Why You Should Evaluate the Financial Condition of Your Life Insurance Companies
|Why You Should Evaluate the Financial Condition of Your Life Insurance Companies|
|The worst economic times since the Great Depression have had extreme negative financial consequences on all of us – – life insurance companies are no exception.
The recent U.S. government rescue of AIG should serve as a reminder of how important it is to evaluate the strength of the life insurance company(s) that issued your policy(s). Many other insurance companies have also incurred losses and have had their ratings downgraded.
There are steps you can take to make sure you do not lose your coverage or access to your cash values after years of making many premium payments.
In addition to the issues discussed above, you may simply have changes in your personal and professional life that impact your need for life insurance coverage. Perhaps you have too much insurance based on your current net-worth or too little if you have young children.
We can assist in helping you navigate these complicated issues. It is extremely important, however, not to cancel a policy before being approved for another. Please contact us to discuss a review of your life insurance plan as soon as possible.