Financial Advisor Richard Paul Unveils How To Avoid Overpaying For Life Insurance
Novi, MI. –Financial Advisor Richard Paul informs life insurance policy holders that they may be paying as much as 70% too much for their life insurance.
The life insurance industry has a standardized pricing system called the Commissioners Standard Ordinary Mortality Rates (CSO). The most recent study was conducted in 2001. Prior to this study, the last prices were calculated in 1980.
“Over this 20 year gap, the table represents a 30 percent reduction in policyholder cost,” said Richard Paul, Founder and President of Richard W. Paul & Associates, LLC. “This reduction could be even higher depending on when your policy was put in place.”
Rich informs that while the study was done in 1980, the lower prices were not implemented until 1988. Policyholders that bought insurance during the lapsed time period may actually be paying an even higher rate.
“Bottom line, there are a lot of policies that are priced better in the market,” said Rich. “The best way to ensure against over paying or getting less than you’ve paid for, is to get a life insurance policy review completed by a knowledgeable advisor.”
About Richard Paul:
Rich has been in the business for over 25 years and specializes in working with retirees, and people in what he calls the “Red Zone,” those people about 5 years before retirement who want to create a pension-like stream of income when they stop working.
Rich started his financial planning career with a large insurance company, but eventually wanted more and decided to become a Certified Financial PlannerTM because he noticed most were not certified in this business.
In addition, Rich has since become a Certified Estate Planner, Registered Financial Consultant, and opened his own Registered Investment Advisory Firm, Richard W. Paul & Associates, LLC.
Rich has also been the local guest host on the national radio show called “The Financial Safari,” for the past several years. The show is now in 28 states and streamed online live each week.
Besides the radio show Rich is also releasing a book “The Baby Boomers Retirement Survival Guide” in the next month or so, which focuses on the transition into retirement, and how to construct a portfolio to give you income for life.