Tip of the Week

Life and Financial Planning in the Time of COVID-19

In this time of economic and social crisis, life insurance and financial planning advice is more valuable than ever. The tough economic news of the past few months affects clients in many ways. Review of life insurance needs and planning strategies, retirement savings, asset allocation, tax efficiency, and general wealth planning have never been more important. Now is a good time to consider proactively reaching out to clients and informing them of the potential ramifications of the current economic upheaval. Social distancing should not keep us from what financial professionals do best—advising clients on the impact of laws such as the CARES Act. Financial professionals have an obligation to engage in the review activities described and a duty to provide what is in the clients’ best interest.

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