05/06/2025
In my capacity as a life insurance agent I have come across some pretty messed up situations with folks and their coverage.
-People that have term plans that will terminate in a few years leaving them uncovered. Alot of times they are unaware of this happening. Term plans commonly terminate at 75 or 80 years old or a preset 10,20,30 year term.
-People with poorly built universal policies that will collapse and become extraordinarily expensive to maintain after the cash value depletes. Im just gonna say it, if you are 60+ Universal Life policies are the devil. Most of the time! There are exceptions but few and far between.
- People that have policies that are “clean-sheeted” or have false medical answers/info. This can cause major issues when it comes time for your beneficiaries to claim. These policies can be rescinded and your beneficiaries wont get paid the face amount you were paying for.
- People that simply just misunderstood or got told wrong and have coverage that is much different than what they think they have. For instance I just had a client that thought he had $30,000 in coverage. We called his company and he had $12,500 but that premium was the same. That is handy information to know!
These occurences are common/daily when Im at the office. Some people hang-up before they find this stuff out. Unfortunately some folks never find out and their families find out the plan terminated at 75 and their family member died at 77 without realizing that even happened . Whole while the family thinks everything is taken care of and there will be a lump sum available.
The bottom line is there are agents that will do what it takes to make a buck. Sometimes that results in folks not being put in the best place. Sometimes these situations are genuine mistakes/accidents. Either way with something as important as your life insurance you want to be sure.
Im here to help folks with that if they need! If anything at LEAST read your policies and try to understand what is in them to the best of your ability. If you need help contact me to schedule a free consultation !
