Saturday, May 17, 2008


by Sid Walker

The media has been bashing permanent life insurance for as long as I can remember and I was in the business in the early 70's. Occasionally, someone speaks out on behalf of the merits of permanent life insurance and that has happened recently. In fact, a couple of conservative investment guys are calling permanent life insurance a new investment class that you should have 5-10% of your assets in!

I'm sure many of you have heard about this video clip from CNBC... in case you haven't seen it, here is the link.

Speaking of the merits of permanent life insurance, I have been talking with top producer Annette Bau, CFP of Tempe, AZ about being a guest on an upcoming teleseminar. In reviewing one of her articles: "How to Join the 100% Insurance Closing Club," she shares a "no-nonsense" approach to dealing with attorneys and CPAs who don't get behind permanent life insurance. Here is her approach:

"You may also encounter resistance from other advisors, such as attorneys and CPAs, who don't believe in life insurance. This is a simple barrier to overcome. First, most advisors who say they don't believe in life insurance simply don't understand it.

When I encounter an advisor who doesn't understand life insurance, I present the facts, the client's goals and objectives, and why I feel life insurance is the best solution. If the advisor is still resistant, I simply state that I'll follow up with a letter of my findings and recommendations, as I don't want to have any exposure if the client dies. If you've done a proper fact-finding and needs analysis, the advisor will immediately get out of the way of your placing a policy."

Have a productive May,

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1 comment:

Byron Udell said...

Permanent life insurance is indeed a great product. The problem with it is that most people can't afford it and lapse the policy before any benefits are seen.