JH Advanced Markets Radio
Choice of Life Insurance Policy
with Barry Flagg
Barry D. Flagg, CFP, CLU, ChFC, founder of TheInsuranceAdvisor.com (TIA), joins Randy Zipse, VP and Senior Counsel, Advanced Markets Group, to discuss the choice of life insurance product and its suitability when it comes to trust-owned policies.
Barry and Randy discuss, among many things, what is involved when a trustee considers what is a “prudent” product choice.
No lapse guarantee (NLG) products provide trustees with certainty regarding the death benefit payment as well as ease of administration. However, in addition to these two considerations, assessing ALL product types and the cost effectiveness of each are critical elements of the fiduciary process involved in determining suitability. Low cost current assumption products should be part of the assessment, especially when such products may benefit from an uptick in interest rates.
What happens when a low cost current assumption product is ignored and cash values are left on the table? Is this really a 'prudent' choice? Barry considers a few cases on-point that deal with this concept of making prudent choices available based on the market conditions.
Barry D. Flagg is the Founder and Inventor of TheInsuranceAdvisor.com, Inc. (TIA) which is a provider of insurance product information and does not endorse any broker/dealer, financial planner, registered representative, insurance professional, insurance product, or insurance company. Neither Barry D. Flagg nor TheInsuranceAdvisor.com is affiliated with John Hancock Life Insurance Company.
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