Beneficiary Audits are a MUST!!!
For almost 2 decades, we’ve been reviewing beneficiary documents on a regular basis for our new clients (and current clients). We’ve found that the new AND old advisors who fill out beneficiary forms don’t know what they are doing 90%+ of the time! What does that mean for you?
There is a 90% or better chance that what you have on your beneficiary designations ISN’T really what you want. It takes us only 2-3 minutes to explain your options….so that you understand your choices. BUT, I guess that’s too much time for the “Order Takers” that most people have as advisors. Their name is correct on your application, their agent/rep ID is correct on your application…but approximately 90% of the time, your beneficiary designations aren’t what you want…..if they took the time to explain it to you…..IF THEY KNEW!!!
Why do you suppose their name and agent/rep ID is correct? Why is that important to them? m-m-m-m-m-m-m?
There are beneficiaries listed on your Life Insurance Policies, Annuities, Retirement Plans, IRA’s, 401(k)’s, 403(b)’s, Wills, etc. If you have bank or brokerage accounts, you may have ITF’s, POD’s, TOD’s which all have beneficiary designations. How important is it for you to have your wishes come true? Is it important enough to have someone who understands that you are worth the 2-3 minutes to explain something so important as your beneficiary options to you?
Do you have a minor child listed as a beneficiary? Do you NOT have a contingent beneficiary listed? Do you want to unintentionally disinherit your grand kids……do you want your parents or grandparents to unintentionally disinherit you or your children? If approximately 90% of the beneficiary designations are not correct, WHAT SHOULD YOUR NEXT STEP BE? Call Kevin Bock at Integrity Estate Advisors: 1-877-419-1040 I look forward to serving you.