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When is the Last Time You Did an Insurance Review?

The Comprehensive Advisor Newsletter

March 2019

Are you a comprehensive advisor? If the answer is yes, then when is the last time you did an insurance policy review? Many advisors we know market themselves as being “comprehensive” but when asked this question they shrug their shoulders. At The BluePrint, our commitment is to help you be a more comprehensive advisor. We believe reviewing a client’s insurance and annuity policies (whether you sold them or not) is a big part of providing comprehensive financial advice. Our goal is to help make those conversations easier by providing perspective and actionable ideas. In this month’s The Comprehensive Advisor Newsletter we address the topic of policy reviews. We discuss why you should do them, how to approach the conversation and a simple roadmap for the process.

“Why Should I Do a Policy Review?”

If you are a fiduciary, the simple answer is because you will be acting in your client’s best interest. We believe to provide comprehensive financial life advice understanding their total financial picture is the prudent and responsible approach.  Clients may have purchased insurance and annuity policies elsewhere and don’t fully understand what they own. The person that sold them the policy is no longer around and they don’t have a trusted person to help them. A thorough analysis may help provide peace of mind and tremendous value to the client relationship.

"How Do I Start the Conversation?”

Ask two questions. “Do you own any life insurance or annuity policies? When was the last time you reviewed them?” The answers to those questions will start the conversation in a natural manner. We often find that advisors don’t have a problem asking these questions. The problem comes in remembering to ask. When it is not part of your normal process, it is easy to forget. A couple of simple ideas to start the conversation are:

1.      Add the questions to your client review agenda or checklists.

2.      Discuss the topic in your client correspondence/newsletter.

3.      Pick your slowest month of the year and make it your “policy review month.” Send an email blast to your clients and let them know to set a time in that month for their review.

"What Can I Expect?”

The policy review process is easier then you may think. Once a client indicates they would like a review, we make the process as simple as we can. Below is a breakdown of the process:

1.      Depending on the policy, we collect the necessary information through a statement, policy and/or in-force illustration.

2.      We walk you through our analysis. Attached is a sample policy review for life insurance. Click here to view a sample policy review. 

3.      We can provide the client with the analysis with you or get you comfortable enough to explain on your own.

Our process is designed to carry the burden of the work and make you and your team look good in the process.


If you have any questions, please call us at 855.204.6353 or visit us at