Insurance and Finance

Inside the 360 Review

By Jennifer Chappell Smith 6.1.17

What do taxes, vehicle inspections, and insurance all have in common? Well, they should all be reviewed at least once a year. While getting your car inspected and doing your taxes are not the most fun tasks, the Texas Farm Bureau Insurance 360 Review can actually leave you with a feeling of satisfaction.

“It’s really just about peace of mind,” says David Weathersby, a Texas Farm Bureau Insurance Agent and Agency Manager in Robstown, just outside of Corpus Christi. With more than 40 years of experience keeping his clients’ needs top of mind and helping fellow Agents learn how to conduct the perfect reviews for their policyholders, you could say Weathersby knows a thing or two about the ins and outs of 360 Reviews. 

Here’s a rundown of what you can expect from a 360 Review.

What is a 360 Review?

Essentially, it’s a systematic look at all your insurance policies and an analysis of any changes in your life or circumstances that may impact them. It shows you if you have the coverage you need and how to fill any gaps. 

Where does the meeting happen? 

It’s up to the policyholder, but Weathersby always likes it best when he can meet with the policyholder at their home or farm and visit around the kitchen table. “It’s just more personal,” he says. “But you’re welcome to come to the office or even to just give us a call.” Sitting together talking through coverages line by line and discussing life changes helps Agents understand policyholder’s needs to ensure they have all the coverage required for policyholder’s financial situation. “It’s the personal attention that really sets Texas Farm Bureau Insurance apart,” Weathersby says. “No two policyholder’s situations are alike.” That’s all the more reason to schedule the 360 Review each year.

What kinds of topics will your Agent cover?

Life insurance: Have you had a child or adopted a baby? Have adult kids graduated and moved out? Is there a way your life policy can serve your spouse if you are gone? Are you in a position to consider whole-life coverage now that a term policy may be coming to an end? 

Auto policies: Have you sold a vehicle? How old are your vehicles? Weathersby says an Agent can help you determine when an aging car may no longer need collision coverage, saving you some money. Has a family member started driving? Sometimes policyholders forget to call their Agent and let them know that their child turned 16 and is now driving the family car. 

Other vehicles: From new farming equipment to a new motorcycle or boat, new purchases or “toys” you’ve acquired may need new or better coverage. Tractors and other farming equipment may need discussion time, too.

Property policies: Make sure your home and property are covered by up-to-date policies. Did you redo the kitchen? Sell an acre or two? Build a new barn? The 360 Review is your chance to let your Agent know and make changes to the insurance that covers your home and your farm or farm business.

Health insurance: If the healthcare coverage offered by Texas Farm Bureau Insurance through Blue Cross Blue Shield of Texas can help your situation, your Agent will explain the options and help you choose the plan that is right for you and your family. 

Life stages: Life circumstances can often affect your insurance and financial needs. Chatting about other changes in your family may signal a need to make other changes — beneficiary changes on your policies, for instance. Or if you plan to retire in five years, your Agent can help you understand how products such as annuities could play into your retirement financial plan. 

Doing Your Part

So what can you do to help make sure your 360 Review goes smoothly? Weathersby recommends that you include all the policies you hold — even with other companies for various property or vehicles. It will help your Agent get a better overall picture of your financial situation.

Most of all, you’ll need to make the appointment. Call or email your Agent to set it up at your convenience. Weathersby says Agents really enjoy the one-on-one chats with policyholders and want to do whatever they can to make sure you’re fully protected for the road ahead.

To learn more about how insurance needs change over time, check out “Timehop: Take a Virtual Trip Down the Insurance Timeline.”

Coverage and discounts are subject to qualification and policy terms and may vary by situation. Life insurance products are offered through Southern Farm Bureau Life Insurance Company. © 2017 Texas Farm Bureau Insurance