An Adviser's Guide for Reviewing Life InsuranceAn Adviser's Guide for Reviewing Life Insurance

Robert H. Yunich

Once issued, a life insurance policy can remain in effect for decades. During this time, the original owner's goal and objectives may have changed, or a need for additional insurance or changes to the policy may have arisen. Too often, insurance policies are forgotten and the policies, as well as related documentation, aren't periodically reviewed. To ensure that the life insurance policy is fulfilling its intended purpose in a cost-effective way, estate-planning advisers (including trusts and estates attorneys, as well as financial and tax advisers) should follow a review process consisting of fact gathering, analysis and evaluation and recommendation of appropriate changes to the life insurance policy or remedial action...