Facts About Life Insurance

Why to use a Fee-Only Life Insurance Advisor--and not an agent--to help you find the right life insurance products for your needs.

Reasons to use a Fee-Only Life Insurance Advisor
The Buck Stops Here

Buck founded and ran a successful business that had generated his personal net worth of more than $50 million. Like many, he looked into purchasing  life insurance to pay estate taxes on the amount that would not otherwise pass to charity and some family members.  

A life insurance agent recommended $10M of no lapse insurance with a single company and annual premiums.   Since the agent spent more time bombarding Buck with policy illustrations instead of listening to Buck's concerns, she made a poor recommendation.  Maintaining the no lapse provision meant no loans, withdrawals, or changes--and Buck was concerned that the policy might lapse unintentionally if became unable to make financial decisions. 

Uncomfortable with the agent's recommendation, Buck retained a Fee-Only Life Insurance Advisor who recommended paying a single premium, thereby guaranteeing the death benefit.   And though Buck was not able to diversify the purchase because of insurability issues, the Fee-Only Advisor restructured several other policies that were underfunded to provide insurance regardless of Buck's date of death.  

The end result?  Buck is adequately insured, has a guaranteed death benefit--and is enjoying present value savings of more than $1 million.