5 minute phone call

Posted by on Sep 27, 2009 in Featured Articles. | Comments Off on 5 minute phone call

5 minute phone call

A 5 minute phone call can save you hundreds of dollars a year on your life insurance!

We recently took a phone call from a 45 year old man from California who wanted information on his $1,000,000 term insurance policy.

He noticed that it was almost due for expiration since it was a 10yr. term policy that he bought when he was younger.

Currently, “Tom” was paying $410 annually but the policy was scheduled to go to $3,480 after expiration of the term of time.

If “Tom” had not made the 5 minute phone call to ask what his options were to maintain the coverage for a new 10yr. term period, he would had paid an additional $2,720!

Here is the breakdown;

Male, 45 yrs. old,  preferred health non-tobacco-California.   $1,000,000 coverage amount.

10 yr. term premium is $410

Current 11th year premium is $3,480.

After the 5 minute phone call, we determined we had at least 5 better alternatives to save money.

SBLI-$760

Lincoln Financial-$765

AXA-$795

Metlife-$799

Prudential-$805

The bottom line is that you may potentially save hundreds to thousands of dollars a year if you take 5 minutes to call or drop an email to inquire what your money savings options are for your life insurance.

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