September 30, 2004 --

Changing Times

The passing of time brings change.  It’s inevitable.  Children grow up and have children of their own.  Promotions come.  Bigger houses, smaller houses and vacation homes sometimes follow.  Don’t forget about college tuition and saving for retirement.  If your insurance policy has been through as many changes as you have, chances are it needs a change of its own. 

Reviewing your policies every few years is an important part of maintaining your progress towards financial goals and planning strategies.  If your needs have grown or changed, then your policy may need to be adjusted to fit your new circumstances.  Maybe your third child was born recently and you just moved into a new house.  Your present policy may not offer enough coverage.  Maybe you have too much insurance now that the kids are out of college and on their own and your mortgage is paid off.  Has this left you with too much insurance?

Talking with your financial advisor regularly to review your goals and plans and the role your insurance policies play in those goals is an important exercise to make sure you are on track to reach those goals.   

Changing Industry

You may not be aware of it but there is a price and benefits revolution going on in the Life Insurance industry.   Life Insurance companies are changing the way they write policies and provide coverage to better meet your needs.  The policy you purchased five, ten or fifteen years ago may not offer the guarantees and features now available.  Additionally, the mortality statistics used by insurance companies have changed recently and many companies have reduced their premiums as a result.

Many companies offer new riders that allow you access to a policy death benefit before your death to pay for health care costs from terminal illnesses.  There are now policies available that can meet both long-term nursing home care and death benefit needs.  These riders and features may not have been available when you purchased your coverage and most insurers do not automatically pass along rate reductions and new riders to existing policyholders.

Changing You

In light of changes your life has seen and the changes in the Life Insurance industry, now is the best time to review your current insurance coverage and your financial plans.  You may be overinsured and could save money by reducing your death benefit.  If you are underinsured you may need to purchase additional coverage.  Maybe your coverage amount is appropriate for your planning strategy but the policy you own does not offer the features and guarantees that you can get from new policies developed today. You can exchange your old policy for a new one.

The only way to know is to meet with your financial advisor to review your current coverage and see if it makes the most sense for your current situation.  Call Doug Hall at 215-564-1900 for more information.

Douglas L. Hall is a member of the Asher Financial team of qualified experts who are ready to help you analyze your situation and your current policies and help you determine if a policy change is necessary and help you implement the changes.

Securities offered through 1st Global Capital Corp. Member NASD, SIPC. Investment Advisory Services offered through 1st Global Advisors, Inc. 8150 N. Central Expressway, Suite M-1000. Dallas , TX 75206 , 1-800-959-8440 . We currently have representatives licensed to offer securities in the states of PA, CA, NJ, NY, TN, DE, FL, OH, CT, and MD, and licensed to offer investment advisory services in PA. This is not an offer to sell securities or provide investment advice in any other state or jurisdiction.

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