Have you considered how current interest rates work with your life insurance policy?
Jody’s Financial Tip
Review your life insurance policy
Interest rates are one of the components used by insurance companies to calculate benefits. Not all policies are like this, but some are. A good rule is to review all insurance policies, but I encourage you to review your life insurance now. Low interest rates can have a negative impact on some life policies.
- You will need to request an in-force illustration if available
- Review the illustration to determine if any adjustments are needed
- Look at your household cash flow and how a loss of income due to a death would impact it
I am happy to help you gather this information and review it for you as well. I can also help you apply for life insurance.
In honor of the recent Mother’s Day, I would like to share this. I do not know who to give credit to for the beautiful words. This was told to me by a friend and I believe it was written in a sympathy card. My mother passed-away 9 years ago—I embrace this quote.
“Every day that I go out into the world and live as well as I can is a tribute to my mom and the happiness she wanted for me”. Author Unknown