Our Blog
What will happen during the exam?
If the insurance company requests a medical exam you will receive a phone call directly from the examination company to schedule an appointment. The fees for this exam are covered by the life insurance company and generally the examiner will come to your home or your...
What does the underwriting process consist of?
What is Underwriting? Underwriting is a life insurers term for the time the insurance company is appraising the risk involved in offering you insurance. They take into account your health, lifestyle, and medical history to ensure that the cost of the insurance is...
How long does the underwriting process take?
Typicaly the “underwriting" process takes about 30 days from when your application was submitted. Sometimes the process happens much more quickly. However, depending on if an exam is needed, if doctor records are needed, or if additional forms are needed, and how...
How do I make a change to the amount I pay into my policy?
Term policy: Term policies have a fixed premium, you can not pay more or less than that premium. If you are in a situation where you will be late or behind on a premium payment, call our office so that we can figure out options for you. For example, if you also have...
When are dividends paid out?
Dividends for your Whole Life policies are paid out annually on your policy anniversary. These dividends are noted on your annual statement. We issue every policy having that dividend reinvested into your policy. How do they reinvest it? They use it to purchase...
How do I change the address on my policy?
The easiest way to change the address on your policy is to contact Lacey at our office. Lacey will notify the life insurance company of the change and they will mail you a notification. Email: info@vaultais.com Phone: 435-656-3882 If you choose to notify the insurance...
How do I change my bank information?
Although some insurance companies allow you to make this change online. We have found that it is simpler for clients to call or email our office. We will do all of the legwork for you and send you the exact forms required to make the change. Once the form is completed...
How do I change my beneficiary?
Although some insurance companies allow you to make this change online. We have found that it is simpler for clients to call or email our office. We will do all of the legwork for you and send you the exact paperwork required to make the change. Once the form is...
How do I assign a bank as a beneficiary, but only for the loan amount of a conventional loan?
This is considered a collateral assignment. We will assist you in getting the proper forms filled out. When you have signed the forms we will make sure they get to the right department at the insurance company. Once processed, it is mailed to the bank for their...
How do I pay back a Policy loan?
Paying back a policy loan is done at your discretion and time-line. Whether you pay it back in full, want to make sporadic payments when you have extra money, or want to set up an amortization schedule - it is what works best for you and your cash flow. When you are...
How do I do a family or school loan from my Vault?
Depending on which company your policy is with and the amount of loan you want to take, we may be able to request the loan on your behalf, bypassing any paperwork to complete. The easiest way to request a loan would be to contact our office so we can either request...
How do I take a personal loan from my Vault?
Depending on which company your policy is with and the amount of loan you want to take, we may be able to request the loan on your behalf, bypassing any paperwork to complete. The easiest way to request a loan would be to contact our office so we can either request...
How do I take a business loan from my Vault?
Depending on which company your policy is with and the amount of loan you want to take, we may be able to request the loan on your behalf, bypassing any paperwork to complete. The easiest way to request a loan would be to contact our office so we can either request...
How often should I review my life insurance needs?
How often should I review my life insurance needs or wants? We suggest at a minimum on an annual basis. The annual review document and the assessment are for you to assess what's gone on over the last year.Maybe there's been a job promotion, maybe there's been a pay...
Why do I need to meet with you annually?
Why do I want to meet with you annually? There are a couple of reasons. First, we want you to keep the fire of why you've done what you've done with us here at Vault AIS and we want you to utilize that in your life personally and professionally. How many times have...
How is investing in stocks, bonds, 401k, SEP, Simple or other qualified plans the same as gambling?
If you have a qualified plan, what do you do with it? Do you continue to fund it? Is it the most efficient place for you to put your cash? First of all, when you fund a qualified plan, you're relinquishing control of cash and you're putting it into a financial tool...
What is a buy/sell agreement?
What is a buy-sell agreement? I am not an attorney and I am not an accountant. So I am not giving tax advice or legal advice here. Simply put a buy-sell agreement is a document inside your LLC, S-corp, C-corp. It's a legal agreement that you have with a partner that...
Do I need life insurance on my Key Employees?
Do I need life insurance on key employees? Yes! Yes, you want life insurance on your key employees. Do you remember the conversation about transferring the risk versus retaining it? The #1 Asset in your business is you!People are assets, things are not. Human life...
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