Many financial advisors recommend term life insurance policies to their clients. Unless advisors are well versed, they too often lack a thorough enough understanding of policy options to recommend the best combination of features. The authors begin by describing the most important term insurance options, and then explain how agents can determine the importance of each feature for a particular client, thereby avoiding common mistakes. Selecting term policies is a difficult and time-consuming task, but this article will help many agents and professional advisors make better choices for their clients.
Author: Gregg Dimkoff, PhD, CFP, CLU,is a professor of finance at Grand Valley State University. He is the author of the textbook Modern Risk Management and Insurance, and teaches insurance and wealth management courses. Prof. Dimkoff has been a journalist for several publications, writing about issues in finance, insurance, and economics.
Author: Bill Boersma, CLU, LIC, AEP, is the owner of OC Consulting Group, a national life insurance consulting practice, and posts many blogs on his blog site, BillBoersmaOnLifeInsurance.info to help advisors and others gain a better understanding of life insurance, technical and tax issues, sales and marketing, and the many nuances in the process of choosing the best term or permanent life insurance policies for their needs.
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