Policy Review
Your life doesn’t stand still.
Neither should your coverage.
Insert RLS name
Regional Life Specialist
Date and Location
FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
The following presentation has been developed and approved for use by
authorized producers and agents of the insurers of American General Life
Companies. This presentation must be used with the accompanying narrative
notes which are included in the presentation.
You must take the following steps to access these notes:
1. Save the presentation to your laptop or PC.
2. Open the saved presentation; then click the “View” option in your menu bar
in the upper left corner of your screen.
3. From the “View” drop down, click “Notes Page”.
This will open the presentation with the narrative notes at the bottom of each
slide. When making the presentation, these notes must be used without
modification. Please contact your American General Life Companies
representative with additional questions.
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Policy Review
 Reviewing your clients’ policies every few years is an important
part of helping your clients keep their financial strategy intact.
 If their needs or plans have changed, then their policy may
need to be adjusted to fit their new circumstances. They may
have too little or too much insurance for their present situation
and future goals.
 Talking with your clients about their financial plans and
periodically reviewing the role that their life insurance policy
plays in those plans can make a marked difference in your
clients’ ability to reach their goals.
 Chances are, life is quite different today than when your client
purchased their policy — and likely so are their insurance needs.
A systematic policy review is the best way to ensure their
coverage continues to keep pace with their needs.
FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
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Why is a Policy Review Important?
 Would your client like to know if they could possibly increase their
death benefit and/or get death benefit guarantees?
 Wouldn’t your client want to be reassured that their death proceeds
will be paid to the right beneficiary?
 Wouldn’t your client want to know if their coverage were inadequate
due to changes in their lives, their needs or in legislation ?
 Do your clients’ have children or perhaps parents who rely on them
for support ?
 Would your client want to move from “renting” to buying insurance ?
A few reasons why a policy review is important in keeping your clients
financial plan intact.
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
What Events Can Trigger the
Need for a Review?
Do you have clients who…
 Have married or divorced in the last several years ?
 Have changed jobs or been promoted ?
 Have started a business or sold one and retired ?
 Have become parents or grandparents ?
 Have experienced a death in the family or is now providing financial
support for a family member ?
 Have refinanced or purchased a new or 2nd home ?
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Understanding the
Current Premium Environment
As your clients’ lives have changed so has their life insurance need.

Clients have the opportunity to get more coverage for the same or
lower premium than when they initially purchased their current
policy due to;
– Advances in product design
– Underwriting changes due to greater medical and heredity
knowledge, and
– Interest rate environment changes

If your clients haven’t reviewed their policy in the last 5 years or
since purchase, a policy review may be in their best interest.
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Changes May be Required
by Your Client Today
 Is their current policy type still the right one?
– Are guarantees preferable to price?
 Is their beneficiary designation still correct?
 Have estate tax laws altered their original plans?
 Is their policy performing as expected ?
– Has market volatility exceeded comfort levels ?
 Have interest rates or subaccount performance met expectations ?
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
How can we assist you in this process?
 Partner with your Regional Life Specialist to uncover, profile and
identify policy review candidates.
 Create talking points to help you in conversations with your client
and to set the appointment.
 Gather needs analysis data to determine necessary protection
amounts
 Systematize your review of the findings with your client and help you
make meaningful recommendations.
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Case Study – Greg's Situation
 Greg bought his life insurance policy when he and his wife, Sara,
bought their first home - a 2-bedroom condo with a combined
income of $100,000.
– 3 years later they had twin sons
 Today (16 years later), they have moved twice, each time an
upgrade as well as purchased a vacation home.
 His sons attend a private prep school and he plans to send them to an
Ivy League university, and
 They have started taking care of Sara’s mother.
Greg originally purchased a $500,000 policy to protect his family and
today it has cash value of $57,000.
Is it time to do a policy review and update his coverage?
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Case Study - Cheryl’s Situation
 Cheryl is a 44 year old single mother of 3 who owns two life policies,
one whole life and one term, for a combined total of $225,000.
 She has cash value of $28,000 in her whole life policy and her term has
only 2 years left before it ends but she would like to increase her
coverage to make sure her children can finish college if anything
were to happened to her.
 She likes guarantees but she wants flexibility and the potential to have
the cash value grow in case she needs to access it in the future.
 She’s in good health and making quite a bit more than she was when
she bought her policies but she doesn’t want to continue paying past
65, is there something she can do?
Is this an opportunity for a policy review?
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Create Opportunities to Enhance
Your Life Insurance Position
Identify the client(s) who can benefit from a Policy Review
Who do you know who has life policies in force with …
 A purchase date of 5 years or greater?
 Face amounts of $250,000 or more?
 Annual Premiums of $5,000 or more?
 Cash surrender values of $20,000 or more?
 An insured(s) age 40 – 80 with no major changes in health since time
of issue?
 Variable universal life, universal life or whole life policies that are under
performing or are inefficient?
 Policy focused on death benefits rather than cash value growth
List 3 – 5 qualified clients who fit one or more of the descriptions above
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
What is Needed to Complete
a Policy Review?
Prepare your client by asking them to provide…
 Current policy information (type of policy, face amount, premium,
etc.)
 Marital/family status
 Goals such as retirement, educational & personal
 Assets such as real estate, stocks, bonds, personal savings
 Financial obligations (mortgage, car loans, small business loans, etc.)
 Charitable intentions
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Prepare Yourself and Your Client
Your clients will appreciate if you are prepared and take the time to
understand their values, visions and goals by…
 Ask probing questions which help you get to know your client’s
present position.
– Current cash requirements such as, final expenses
 Ask personal questions, (DOB, health status, etc.) that may help
uncover reasons to update their policies.
 Expand from the fact finder. Script out additional questions that may
enhance the meeting.
 Utilize your Regional Life Specialist as your partner in this process!
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Reiterate Why a Policy Review
is in the Best Interest of Your Client
 The reassurance that their insurance is in line with your client’s and
their family’s long term needs.
 The knowledge that they are not paying for more coverage than
they need.
 The opportunity to review their entire financial situation which may
lead to life insurance and other opportunities.
 The chance to determine if their life insurance is working as efficiently
as possible.
 The possibility to optimize the client’s investment opportunities.
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Next Steps - Order Our Policy Review Kit
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Next Steps
 The policy owner should complete the Policy Review Worksheet
 Inforce ledgers should be requested of the existing policies
― The inforce ledger provides an overview based on the original sales
proposal along with current cash values, assumed premium payments at
current assumptions
― Annual statements should be reviewed as well
 Based on the data collected and along with the assistance of your
Regional Life Specialist, you should be able to offer your findings
– The policy is performing as expected or possibly better than expected
and no changes are required
– The policy requires minor adjustments which may require adjusting the
premium and/or payment period, possibly allocation changes or face
amount changes
– The policy requires substantial changes including the contemplation of a
new and possibly more efficient policy
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Contact your
Regional Life Specialist Today so…
 We can work with you to uncover and identify potential clients for
policy review opportunities.
 We can help you generate leads and convert them into sales to
increased revenue.
 We can help you enhance your clients’ existing life insurance
protection.
Contact us today at xxx-xxx-xxxx
to begin the process!
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FOR PRODUCER USE ONLY – NOT FOR DISSEMENATION TO THE PUBLIC
Policies issued by: American General Life Insurance Company (AGL), 2727-A Allen
Parkway, Houston, Texas 77019 and The United States Life Insurance Company in the City
of New York (US Life), One World Financial Center, 200 Liberty Street, New York, New York,
10281. The underwriting risks, financial and contractual obligations and support functions
associated with the products issued by AGL and US Life are the issuing insurer’s
responsibility. Guarantees are subject to the claims-paying ability of the issuing insurance
company. Investments in variable life insurance are subject to market risk, including loss of
principal. US Life is authorized to conduct insurance business in New York. American
General Life Companies, www.americangeneral.com, is the marketing name for a group
of affiliated domestic life insurers, including AGL and US Life.
AGLC107568 ©2014. All rights reserved.
FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC
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