In some cases, a term life insurance policy could make better financial sense than a whole life policy, experts say. Clients who only want a death benefit should opt for term life. “It’s better to have adequate coverage through a term policy than not enough coverage in a whole life policy,” said John Thornton, executive vice president, Amalgamated Life. Because term policies are almost impossible to get after age 65, and pretty cheap before age 50, says Thornton, younger clients should lean toward a term policy. Clients could take the savings from a term policy over a whole life policy and put it into a growth stock mutual fund and receive a better return, said Chris Hogan, lead financial counselor, The Lampo Group. And clients who like versatility can upgrade or change to a new term policy without a medical exam, Thornton said.
Your resource for news, research and analysis to help you deliver more effective outcomes to your clients.
ThinkAdvisor's TechCenter is an educational resource designed to give you a competitive edge by keeping you abreast of new tech innovations and need-to-know information that can be applied to your business.
A survey of advisors nationwide reveals how the use of ETFs is expanding and what factors are likely to further support this trend.
Simplify life for your clients with goals-based planning strategies
What your female clients need to know about long-term care.
How to use digital marketing to increase appointments.
Nov 02, 2017
Join this conversation as a panel of experts provides tips and best practices to optimize your tech resources for business growth.
Oct 25, 2017
Join this complimentary webcast to discover how to leave the impression that employee benefits is stodgy and sluggish in the past.
Sep 28, 2017
Women face unique retirement challenges. We can give you key considerations and strategies to help you optimize your female clients’ Social Security. In this webcast, you’ll...