LOS ANGELES, March 1, 2012 /PRNewswire/ -- While health insurance premiums have increased approximately 113% over the past ten years, according to a survey in September 2011 by the Kaiser Family Foundation, the reverse is true of life insurance. In general, life insurance premiums have become demonstrably cheaper over the past 25 years, due primarily to increases in life span, new product designs and competitive market pressures. In addition, many new enhancements to life insurance products have been introduced with significantly extended guarantees, enhanced death benefits and long term care riders. In many ways, the changes in life insurance costs mirror what is happening in the mortgage market with its historically low current rates.
While investors regularly review their stock, bond, mutual fund portfolios, etc., life insurance tends to be overlooked. In addition, because of changes in family situations, such as age, divorce/remarriage, new baby or retirement, the importance of insurance review is further enhanced. Most purchasers are unaware of what improvements could be made, given their life changes and the generally lower cost as well as improved features current policies offer.
It is possible, due to the above changes, a client can increase death benefits or possibly withdraw cash for any current needs or investment opportunities. While there is no typical outcome to an insurance review, there are assuredly strong reasons to re-evaluate current insurance needs and measure against the more competitive and cost efficient life insurance products offered in the U.S. today.
About WestPark Capital
WestPark Capital, Inc., (www.wpcapital.com) is a full-service national and international inve
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