Life Insurance and Annuities

21 Beware of Any Agent Who... • Suggests that using the cash value from your current policy to fund the premiums on a new policy offers a demonstrable advantage to you, • Advises you not to speak to anyone from your current insurer about a policy replacement or change he/she is proposing, • Asks you to sign incomplete or blank forms, or • Speaks negatively about another agent or company. Your best defense against an ill-advised replacement or change to your life insurance policy or annuity is knowledge. The more you know and understand about your current policy and the proposed new policy, as well as the company and the representative, the better equipped you will be to make the best decision. Remember, if you intend to replace or change an existing coverage, you should be sure that the agent selling the new policy has your best interests at heart, and bases the purchase recommendation on an appropriate needs analysis. Agents have a duty to inquire about your current coverage. Once on notice, the regulatory steps designed to protect you should occur. Shopping Tips Purchasing the right insurance that meets your needs can be challenging. Insurance can be one of the most important ongoing purchases you make to protect yourself and your family from financial hardship. Since your needs and financial situation change over time, it is important to understand and review your insurance policies to decide if the same policies are still right for you.