There are two major trends occurring with life insurance and risk management. First, many traditional life insurance agents are becoming financial planners. Second, financial planning is rapidly transitioning from a sales model to an advisory model. If these trends continue, life insurance and risk management will increasingly become a subset of financial planning. For many consumers, that’s good news.
Steve Parrish, JD, RICP, CLU, ChFC, RHU, is an adjunct law professor and consultant.