Checked That Insurance Policy Lately?

10:59 am Uncategorized

risk e1302544686527 Checked That Insurance Policy Lately?A Wall Street Journal article last week sounded the alarm about the need for holders of some variable life insurance policies to review those policies for any problems associated with the market shock of 2008 – problems that are just coming to light for some wealthy clients who have used these insurance polices for estate planning purposes.

As the article noted, annual reviews of policies held in an irrevocable life insurance trust (ILIT) should be conducted to catch any problem before it becomes a disaster.  Unfortunately, many times this isn’t done.  Volatile markets can undermine the value of a variable life insurance policy — and policy holders may not become aware of it until they receive notice from the insurance company that they need to come up with a pile of cash to keep the policy alive.

Help is available to you by contacting your Southern California financial planning experts today.

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