Not only does life change, but life insurance products change over time. That’s why it’s important for you to have a regular policy review practice in place. Trust, credibility and long-term relationships are just the beginning to the benefits of scheduling reviews. Explore the topics below to help you build your policy review practice.

Client Profile:
Here are a few items that may trigger the need to review a life insurance policy:

Helpful Tips:
Here are a few questions to answer when reviewing a policy.

• Can the client retain the same coverage but at a lower cost?
• Is there a policy that offers more coverage for the same premium?
• Can improved death benefit guarantees be found?
• Is the death benefit enough, too much or just right?

Sample Case: Builder IUL

Take a look at Builder IUL to help your clients build long-term cash value growth. This indexed universal life insurance product offers a guaranteed interest bonus on the index account along with several index selections to help boost long-term cash value accumulation. In the sample illustration, we show a male, age 50, preferred non-tobacco who has an existing policy with a cash value of $25,110. His needs have changed and he not only wants the $500,000 of death benefit protection, but he also wants to accumulate cash value. He wants to pay premium of $16,500 for 7 years and then use the potential cash value accumulation to help supplement retirement income at age 70 for 20 years using variable interest rate loans (assuming a loan rate of 5.9%¹). View the illustration and find out his potential supplemental income stream.

View illustration

1. In some situations loans and withdrawals may be subject to federal taxes. North American Company for Life and Health insurance does not give tax or legal advice. Clients should be instructed to consult with and rely on their own tax advisor or attorney for advice on their specific situation.