Advisors often inherit client insurance policies that may no longer fit the client’s goals. This session provides a structured, fiduciary process for reviewing policy performance, ownership, and tax implications—and deciding whether to retain, replace, or repurpose them. Join insurance experts Barry Flagg, CFP® and Kevin Kimbrough, CFP® to learn how to conduct policy audits, assess cost-effectiveness, and document recommendations that align with fiduciary duty and client objectives.
Learning Objectives:
- Conduct comprehensive policy reviews with a focus on cost, performance, and suitability.
- Understand 1035 exchange mechanics and when replacements make financial sense.
- Repurpose with LTC benefit added
- Explore secondary-market life settlements for legacy or underperforming contracts.
- Implement a systematic, repeatable policy-review process with clear documentation.
- Communicate findings and recommendations transparently through annual client review letters.
Key Topics:
- Policy audit checklist: mortality costs, crediting rates, loan balances.
- Life settlement options and ethical considerations.
- The “Annual Policy Review Letter” — how to use it to enhance client trust and compliance.