Dust Off That Old Policy: Why Now is a Good Time to Review Your Life Insurance Policies

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Dust Off That Old Policy: Why Now is a Good Time to Review Your Life Insurance Policies

As a result of the COVID-19 National Emergency, insurance companies have modified their underwriting requirements to help individuals secure additional life insurance protection. Through new “relaxed” underwriting guidelines, insurers are offering coverage without an exam that requires a nurse to visit your home or office. These relaxed guidelines offer a convenient way to increase insurance amounts, with death benefits up to $3,000,000 available for most age groups.  Due to these relaxed guidelines, now is a good time for employers and individuals to review their existing in force policies for key person, buy/sell or estate planning purposes.

Innovative recommends the following when reviewing your life insurance programs:

Term Insurance

Permanent Insurance – Whole Life, Universal Life, Variable Life

For All Policies

If you’re considering additional insurance after reviewing your policies, now is the time to act as these relaxed guidelines may change when social distancing requirements end.  For any questions regarding your life insurance policy or securing additional life insurance protection, please contact Innovative Benefit Planning at 856-242-3330 or resources@iifria.com.

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