When it comes to business-purpose life insurance, there are many additional layers of complexity. It's not just about having life insurance policies to protect the business in the event of the death of an owner, key employee, or partner. It also involves understanding the financial, estate, and tax planning opportunities. Therefore, it is crucial to seek an independent second opinion, especially from a fiduciary source like ours.

 

Life Insurance Policy Review for Business Owners/Professionals is practice our TEAM has many years of experience since we started in 2011. 

 

If you already have a policy, it is essential to have it reviewed at least every two years, even if there are no business changes. Ideally, all life insurance reviews should be conducted annually, especially if it is a cash value policy.

 

Due to the complexity of business life insurance planning, most business owners and executives tend to focus more on strategies and the setup of business plans rather than on the life insurance products and the many options avaliable. Don’t make the same mistake, as you could end up overpaying or not having the best life insurance plan. The only way to know is to get your policy reviewed.

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Consider the following questions:

• How familiar are you with living benefit level term life insurance with flexiable long-term conversion options?

• How familiar are you with the various types of whole life and universal life policy options like IUL, VUL, and Guaranteed UL?

• Do you want to ensure you're exporeing all your options?