Wednesday, January 14, 2015

Why fiduciaries have a responsibility to review life insurance policies - Life Insurance Policy Review

The fiduciary market is comprised of CPAs, attorneys and trust officers and is generally perceived and relegated to tax preparation and audits. However, many CPAs oversee their client's entire financial dealings, which include life insurance policies. Attorneys, who practice in the probate or estate planning arenas, often have oversight of their client's trust documents and their asset management. And similarly, some trust officers have an obligation to manage assets, or at the very least, maintain an awareness of portfolio performance, including life insurance policies.

But the fiduciary community may not have the training or education to review life insurance products in their client's overall financial product holdings. Often they're seeking to outsource policy reviews to advisers, who are knowledgeable in product provisions and medical underwriting. This is a huge marketing opportunity for advisers to offer policy review services to the fiduciary community.

Syndicated financial columnist and talk show host Steve Savant interviews nationally recognized product due diligence expert Sam Rocke, CFP. This series explores the product review process for life insurance, not only for traditional indemnification strategies, but for tax advantaged distributions for retirement income. All financial products need to be reviewed on an annual basis for performance and continued relevance in the overall financial plan.

About Steve Savant

Steve Savant

As the National Marketing Spokesperson for Ash Brokerage, Steve Savant looks forward to meeting financial professionals in every way possible - in person or by video through conferences and social media.

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