In a piece for the Nevada Appeal, Darcy Houghton, a trust and wealth management adviser, said an important New Year's resolution for most consumers should be to take steps to ensure a strong financial legacy. One step Houghton suggests is to revisit a life insurance plan to make sure all needs are met and beneficiaries are taken care of.
According to Houghton, when reviewing an existing life insurance policy, consumers should look at their disability, long-term care and other life insurance benefits provided in the product to make sure they are in line with current needs. As consumers needs change over time, their life insurance policy should reflect these changes and continue to provide adequate coverage.
If a consumer does not yet have life insurance, they should invest in a product soon to safeguard against unexpected illnesses, death or other financial burdens. To help consumers find the right provider to meet their needs, Best's Review magazine recently identified the top insurance providers into its Innovators Showcase. One provider on the list, American General Life Companies, was recognized for its digital version of the traditional paramedical paper exam, which has made life insurance underwriting more accurate. Further, the company's prescription database tool allows the provider to review applicants' prescription drug usage history, enabling it to develop a better pricing plan for each consumer.