What questions does a Life Insurance Checkup answer?
How strong is your insurance company? Do you have the right type: term or cash-value? Do you have the appropriate amount of insurance in light of other assets, liabilities, family circumstances, and after considering pre-retirement death benefits, Social Security Survivor benefits, the possibility of the family downsizing at the death of the bread winner, inheritance, etc.? Are you overpaying? Evaluate current policies. If term policies, make sure they’re the most competitive available in light of your current health. Also be sure they will last the appropriate length of time in light of liabilities (mortgage pay off, children maturing). Calculate the true internal rate of return on cash value policies and compare them to alternatives in the market place- a better policy, paying down debt, a Roth IRA. Evaluate universal life policies to be sure they will not expire before you do. Here is what Cave Financial brings to the table: • Experience- Mike’s dad was a life insurance agent so Mik
