It is quite common for purchasers of life insurance to "set it and forget it" once they have completed the initial acquisition of their coverage.

Clearly, this is not an ideal strategy for the proper maintenance of such a valuable financial vehicle.

The short list of reasons for auditing life insurance policies includes:

• Your policy might not be providing you with adequate coverage.
• The needs that prompted the purchase of your existing life insurance policy have changed.
• The insurance might not be performing relative to its original objective.
• It may not be on track to meet intended goals.
• The insurance product could potential be uncompetitive in today's marketplace.
• Economic conditions have changed which might have caused a material change in your policy over the years.

These are a few of the many reasons it is important to continually prompt your high net worth clients to perform periodic reviews of their coverage.