Silver Oak’s Policy Review is a turnkey process you can use to audit your existing life insurance contracts. An audit can determine if your current insurance coverage is meeting your objectives and will identify potential options if the contracts are falling short. It may be possible to eliminate the interest-rate risk with next-generation products that provide guarantees which may allow you to lower your premiums or increase coverage at no additional cost.
How Does the the Policy Audit Work?
Step 1.
Gather all contract information including original illustrations if available.
Our Life Audit Check List form will assist you in this preparation.
Step 2.
Speak with a Silver Oak consultant and review the original purpose for the insurance coverage and determine if the need has changed. A few common factors affecting needs includes:
- Change of employment or promotions
- Marital status and dependents
- Sale/Purchase of a major asset
- Debt obligations
Step 3.
Sign the Inforce Ledger Request Letter, requesting a current in force illustration. Once the illustration is received by Silver Oak, the detailed analysis can begin.
Step 4.
A Silver Oak consultant will review the illustration with you and determine if the policy is under-performing. If it is, they will assist you with identifying solutions that will maximize the performance of your insurance portfolio.
