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Should I Replace My Life Insurance? (Fall 2008) << Back
by George Y. Hirano, CLU
 
circa:1988: Replace your Life Insurance? Never!
circa:2008: Replace your Life Insurance? Possibly.
 
Why? Currently issued policy premiums are based upon currently available longevity tables. Many policies issued in the 80s used life expectancy tables formulated with 1958 statistics! Current life expectancy shows we are living longer. How does this affect those of you who currently own a life insurance policy?
 
Current term policies are:
 
A. Being issued at lower premiums for comparable ages
   
B. Being issued to cover a longer period of coverage
   
C. Extending the right to convert to permanent policies for a longer period
   
Permanent policies:
 
A product purchased years ago may not have performed as anticipated thus causing increasing amounts of premium to continue the policy. Currently available policies can have guarantees for coverage to age 120 without increases in premiums.
 
Ethics of Replacement:
 
The ethical concerns regarding replacement must ALWAYS be based upon the welfare of our client and be to their advantage. No other consideration can be inserted into the ethics of replacement scenario. Your agency cannot allow Life insurance company concerns nor its own concerns to over-ride our rule of Ethics.
 
Existing life insurance policies can be evaluated by our trained staff without obligation on the part of any policyholder. Our motto is "The Client Must be Served."
   
   
   
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AHTKY Insurance Agency, LLC
1451 W. Artesia Blvd, Suite A, Gardena, California 90248
CA License: 0C46036