Life Insurance Portfolio Review

If you already have an existing life insurance policy, contact W.H. Black & Company for an initial consultation.  We’ll ask you to provide copies of your policies and discuss your current needs. Then our office will compare your existing policies to other products that may meet your needs. We’ll prepare a detailed analysis and review our findings with you. After the review it is up to you to decide whether or not to proceed. The review process is of no cost to you as we are paid directly by the insurers should you decide to accept our recommendations. Why Conduct a Review? Since the purchase of your policy it is likely:

  • Interest rates have fluctuated
  • Securities markets have been volatile
  • Mortality tables have changed
  • New products have become available with better guarantees
  • New premium payment options are available
  • Company ratings may have changed

You might not be aware of the significant impact these changes may have had on your current policy, and a review may uncover new opportunities for savings or valuable additional coverage. For Example…

  • 42 year old male, smoker. Existing $1 million term policy with annual increasing premiums. We replaced this policy with a ten year level premium term policy.  Total savings over the next ten years: $81,504
  • 71 year old male & 68 year old    female, both in excellent health.  Existing $1.5 million joint survivor policy in which their dividends were paying the premium.  Due to market fluctuation the dividend scale has changed and they’re now expected to pay $6,000 annually to maintain the policy.  This premium is not guaranteed and may increase should the dividend scale change again.  We exchanged this policy to guaranteed premium UL, and decreased the premium to $0 annually guaranteed to age 100. Total savings over the life of the policy: At least $198,000.

W.H. Black & Company is a life insurance broker located in Winter Park, Florida.  We represent clients of all ages and income brackets across the United States.

Bill Black, our president, has been in the insurance business for 30 years. Bill brings a unique and necessary combination of experience and common sense to his clients. He is comfortable with the explanation of complex ideas and is able to put them into easily understood concepts.

In his experience Bill has found one company cannot be all things to all people. Therefore, we don’t simply represent one company, we search the market to find the right company and  product for you. We also know in these uncertain economic times there is great concern about the safety of your insurance portfolio. You may rest assured we monitor current company financial conditions and only use insurers rated “A” or better.

Finding the best life insurance solution for you.

You know that you can’t count on your savings to protect your loved ones when you are gone.

 

You also know that when it comes to taking care of yourself and them in long-term care or after death, your life insurance may be your greatest ally.

The life insurance options available on the market can seem daunting at times, but that is no reason to avoid facing the realities of how your loved ones will get by in the event that anything happened to you. Young, middle-aged, or old– if you have people or a business that you want to care for, then choosing a life insurance plan should be high priority.

 

Some kinds of life insurance policies build up cash value over time. Others do not.

Some kinds of policies combine types of insurance, and others are more flexible in allowing you to switch from one plan to another. Choosing the right fit in a life insurance policy is a highly personal matter, and W.H. Black and Company are here to help you navigate all of your questions and challenges.

Term insurance is often the best often life insurance choice for younger people, people on a limited income, or people who are buying their first life insurance policy. Though it does not generate cash value, term life insurance is inexpensive and typically renewable even despite health changes. Premiums will likely increase gradually over time with each renewal.

Whole life, universal life, and variable life are all types of insurance that generate cash value over time. The premiums charged are higher at first, but will typically be lower later in life. It is possible to borrow against a policy’s cash value, for use in events ranging from a child’s higher education to your own retirement.

  • Whole life insurance covers you for your entire life, as long as your premiums are paid.
  • Universal life insurance is more flexible in allowing you to vary your premiums or the face value of your coverage.
  • Variable life insurance bases your life insurance benefits on the performance of one or more key investment accounts.

Each has their benefits and their drawbacks; each option will suit a different person’s needs. We are here to help you assess your life insurance needs and determine what is the best fit for you.