Review Your Life Insurance
| Account For The Changes |
Change happens constantly. It happens in your life, it happens in your business, and it certainly happens in your financial goal planning. Personal circumstances, the economy, and tax laws can all contribute to changes in your situation. Because of all these changes, you should review and update your financial plan periodically to be sure it still meets your needs. Part of that periodic review should include a thorough review of your life insurance policy(s).
| Examine Your Needs |
Your life insurance policy may be one of the largest assets you own. But unlike other important assets, you may have neglected to review and evaluate your policies to be certain they continue to meet your needs. Why review your life insurance? First of all, you may currently have insufficient coverage or be paying for too much coverage. Assess the need and find out what amount is right for you.
Next, evaluate the policies you currently own and see if they are working efficiently. Small adjustments or inefficiencies in the early years of your life policies can create large differences in future results. Look and see if your policy may be failing due to interest rate changes or fluctuations in the stock market. When is the last time you asked your life insurance company for an in-force illustration on your existing permanent policy? An in-force illustration will reveal important information about the health and well-being of your policies.
| Consider Your Health |
Significant change has occurred in the life insurance industry over the past few years. On average, Americans are living longer and advances in health care have changed life expectancies. The impact has been significant and has allowed insurance companies to reduce the cost of insurance and introduce new riders and benefits. New products may provide significant cost savings or offer better guarantees. Also, underwriting innovations have allowed us to take advantage of new health classifications and underwrite conditions once thought to be uninsurable.
| A Savings Tool |
Life insurance, when used appropriately, is one of the most powerful risk and tax management tools that you can use. Besides life insurance’s primary function of providing protection/value in the untimely death of a loved one or business partner(s), it can act as a powerful tax-savings tool.
Life insurance is used in a variety of circumstances. Whether you own life insurance for the pure death benefit for your loved ones, as a supplement to retirement or college savings, as a part of a business continuation or compensation plan or estate planning strategies, it makes sense to obtain an objective no-cost, no-obligation review from one of our Financial Consultants. Call or visit a DCU Financial Consultant today to review your needs.
Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. DCU and DCU Financial are not registered broker/dealers, nor are they affiliated with LPL Financial. The DCU Financial site is designed for U.S. residents only. The services offered within this site are offered exclusively through our U.S. registered representatives. LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: CA, CT, CO, FL, GA, IL, MA, MD, MO, NC, NH, NJ, NY, OH, PA, RI, SC, TX, UT, VA, VT, and WA.
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DCU Financial
220 Donald Lynch Boulevard, Marlborough, MA 01752 • 800.328.8797, ext. 6077 • Email: financial@dcu.org
© 2011 DCU Financial
220 Donald Lynch Boulevard, Marlborough, MA 01752 • 800.328.8797, ext. 6077 • Email: financial@dcu.org
© 2011 DCU Financial