Life Insurance Suitability (Journal Article)

Both a yearning for “thrival”—and a focus on survival—are on everyone’s mind in this era of COVID-19 virus. We hope you are safe and continuing to shelter in place or are just emerging from isolation as mid-year circumstances allow. On a bleaker note, as of the first week of June 2020, more than 100,000 have already died in the United States, with estimates as high as 240,000 possible U.S. deaths before this is over. We’re told there’s a sudden renewal of interest in estate planning, but what does that mean to a client’s concerns about leaving her family financially secure? Issues of life expectancy and life insurance policy sustainability are addressed in this column.

Author: Richard M. Weber, MBA, CLU, AEP (Distinguished),is well known by insurance agents for his activities on their behalf in the area of life insurance “due care.” He received the Kenneth Black, Jr., Leadership Award in 2008 in recognition of his “exemplary leadership qualities and significant contributions to the fulfillment of the Society of Financial Service Professionals core values of ethics, education, and relationships.” He is president of The Ethical Edge, Inc., Pleasant Hill, CA, consulting to insurance companies and agents on issues of product expertise and the appropriate use of technology. A past president of the Society of Financial Service Professionals, Mr. Weber has written hundreds of articles and delivered presentations throughout the industry on “…increasing earnings while maintaining high levels of integrity and ethics.” .

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