|Are You Incorrectly Insured?|
|News Releases - Business & Economy|
|Written by Ginny Grimsley|
|Wednesday, 25 September 2013 12:58|
Industry Innovator Shares 3 Things Everyone Should Know
About Life Insurance
What things did you buy in 2003 that are still optimally serving your needs in 2013? Ted Bernstein is guessing there aren’t many – and that’s the way you should view life insurance bought so many years ago.
“Think of all the tools most of us use every day – computers, mobile devices, telephones. If yours is even just a few years old, it’s probably slow compared to what’s available now and certainly much more limited in its functionality. And you probably paid more for it several years ago than you would for a new one today,” says Bernstein, founder of Life Insurance Concepts, Inc. (www.lifeinsuranceconcepts.com
“It’s the same with life insurance. Most people don’t understand that the insurance they bought years ago could be either obsolete today or it just may not be serving them as much as it should be,” Bernstein says.
“There is a crisis in the life insurance industry today, he adds, and it’s leaving people uninsured, underinsured and most importantly, incorrectly insured.” It is the incorrectly insured that Bernstein is most concerned about as it is the fastest growing class of insured’s in the United States.
“Life insurance makes a tremendous difference in the quality of a business or the lives’ of loved ones should something happen to a primary breadwinner or key business person,” he says. “It should be easy to purchase, easy to understand and it should be affordable – but unfortunately, that is usually not the case. I think there are too many people who should be adequately covered who are not.
Bernstein reviews some of the things everyone should know about life insurance:
How do you know if you are incorrectly insured? Are you aware of the following, which are some things everyone should know about life insurance today:
About Ted Bernstein
Ted Bernstein has been a consistent innovator in the life insurance industry. He was also the first to introduce “no-load” life insurance in the mid-1980s. One of the few agents ever to address the Society of Actuaries, Bernstein is nationally recognized as an expert in alternative distribution strategies and life insurance product development. In the late 1980s, Mr. Bernstein launched the first fee based Life Insurance Policy Audit and Review service for Trust companies and life insurance fiduciaries. He is a member of the Association for Advanced Life Underwriting. A native Chicagoan, one of Ted’s most notable professional accomplishments was having the honor of acting as Muhammad Ali’s life insurance agent.
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