WP90X – Best Practices and Standards for Insurance Portfolio Due Care
Published: February 27, 2024
Description:
Ryan Barradas and Vincent Brunoforte of WealthPoint discuss the types and importance of life insurance policy post-issue due care.
Historically, the insurance industry has functioned primarily under a distribution model of doing business. In this model, there tends to be a void of post-acquisition service. Ironically, insurance vehicles change post-issue. The state of our economy, the financial markets, the timing of premium payments, the tax code and the insurance markets themselves directly affect the performance of policies on an ongoing basis. Unfortunately, when policies are reviewed, it is often with an eye toward churning the client into a new vehicle and deriving a new commission from the change and not an objective review.
Without diligent, annual care, there is little guarantee that the important policies will be there in the manner your clients hoped at the time that they need them. The greater the lapse of time between reviews, the more severe and costly the problems become. In contrast, what’s needed is a fiduciary review of your client’s existing insurance policies. A truly independent and objective review can provide much needed fiduciary liability relief along with strategic advice.
Outline:
Please select any of the links below to view.
- Introduction
- Annual Review
- Five-year Comprehensive Review & Market Study
- Exit Analysis (options 1-5)
- Exit Analysis (options 6-10)
Presented February 27, 2024
