Insurance for Individuals

CONSIDER THIS . . .

An acquaintance, "Bob," asked me to review a life insurance policy he had bought years ago from another agent. The annual $6,000 premium was due shortly, and he was thinking of dropping the coverage. Now, I knew Bob was presently uninsurable due to his health, and so I readily agreed to review the policy. I wanted to be certain that he didn't make a big mistake.

At his office, Bob handed me the policy and said, "Don't you think $6,000 is a lot to pay for term life insurance?" I reviewed the policy and realized quickly that he didn't understand what a valuable piece of property he owned.

This policy was not term life but a permanent, "whole" life insurance policy he'd bought 15 years earlier with a $400,000 death benefit and a current cash value of $65,000. After additional review, we discovered that the policy's annual dividend was about $3,000, making his premium only half what he thought it was.

Satisfied with this explanation, he popped that $3,000 premium in the mail, and felt good about paying it. Little did I know that less than 30 days later, I would be sitting in his office again, discussing that same policy with his widow and her advisors.

- Linc Shea, BMC president

Many people "zone out" when you mention insurance. And those who take the initiative to buy insurance tend to forget why they bought it after a couple of years. Further, plan options and premiums are always changing; a regular review ensures that you are protected by the wisest and most affordable insurance options.

That's why it's so important to periodically review with your agent what you own and why you own it.

Health Insurance

Life Insurance

Disability Insurance

Long Term Care Insurance

Medicare Supplement