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Life Insurance Relative Deviation Analysis (LIRDA)
Often clients may make the decision to financially protect their family with the acquisition of one, or many, life insurance policies. These policies may often be unreviewed for years, if not decades. Potentially exposing the client to higher premium obligations than necessary with less financial protection.
Due to this, Red Oak PFS has a long-standing LIRDA (Life Insurance Relative Deviation Analysis) practice, which is a free service to clients, financial and legal professionals, and trustees.
Program Overview
Life insurance policies held by an individual, company, or trust should be reviewed annually by a licensed insurance agent in an effort to ensure the client is adequately protected. Often through LIRDA reviews, Red Oak PFS can save the client money, move to better performing products, and increase coverage or maximize income potential.
For trustees of Life Insurance Trusts, whether they be CPAs, attorneys, or friends of the grantors of these trusts, we recommend the life insurance policies be reviewed annually in order to seek to protect grantors from unforeseen changes and seek to protect the trustees from legal exposure resulting from changes in the original scenario. We recommend that this review should include the following steps: administrative review, insurance carrier review, policy performance review, and optimization review.
LIRDA Benefit Analysis
Free Service Provided by Red Oak PFS
Annually Required For Trustees of Life Insurance Trusts
Potentially Saving the Client Money
Potentially Amplifying Benefits or Coverages for the Client
Unlock Your Financial Potential
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