The Value of an Insurance Policy Audit

We believe one of the most valuable resources and services we provide is an audit and analysis of existing life policies.  Over the last decade, we have seen the consistent lowering of fixed interest rates and the repricing of life products. A proper in-depth analysis can help our clients gauge if they are still on track, if there are any issues or “red flags”, and/or are these policy(s) still competitive in this environment.  In particular, this exercise is extremely prudent for trustees of existing life insurance trusts due to the fiduciary standards and the importance of doing their due diligence.

The policy audit is a “win-win” value proposition to the insured and/or the trustee.  It can create piece of mind that the current policy(s) is the right one or that it can be significantly improved upon.  It can highlight future issues or concerns and offer a variety of options.  It is almost always an extremely useful exercise.