The Buy and Hold Mistake

Buy and Hold: A Common Life Insurance Mistake

Many clients come to us with the same story: they purchased life insurance years ago and haven’t looked at it since. It’s in a safety deposit box. It’s filed away in a relative’s paperwork. It’s with their attorney. These important financial instruments are not static – as they languish, they change. Often they change suddenly with devastating results.

Will you pull a worthless policy from your attic? Buying and holding life insurance for long periods of time can have serious unintended consequences:

  • Premiums suddenly jump thousands of dollars – as benefits drop by tens of thousands.
  • You don’t receive the premium relief you expected.
  • Premium payment dates slip, negating guarantees you thought were certain.
  • Guarantees aren’t guaranteed anymore – that expiration date was in the fine print.
  • Your policy is about to lapse and you have survived past the policy’s age limit.
  • The policy’s cash value is slowly trickling away as you blithely and automatically pay annually – so you have little to show after investing years of expensive premiums.
  • Your designees are not administering the policies correctly or are unaware of new legal regulations.
  • You’re missing the substantial benefits of new insurance products that have improved on older policies.

Instead of losing with a buy and hold strategy, you could audit and win:

  • Fund your retirement
  • Provide for long-term care
  • Boost cash value
  • Borrow money tax-free
  • Pay a relative to care for you in your home
  • Pay lower premiums for better coverage

Correct the buy and hold mistake with our expert, independent audits.

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