One of the Biggest Mistakes a Fiduciary Can Make is Not Mentioning Life Settlements as an Option: Download Life Settlement Fiduciary Checklist
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Have you ever come across a life settlement situation and said: “I’m a fiduciary, I don’t/can’t/won’t recommend life settlements?” Then we’d tell you: “you’re not a fiduciary.”
Unfortunately, many fiduciaries don’t realize that the failure to mention the possibility of a life settlement could be considered a dereliction of one’s fiduciary obligation. In certain situations, it’s preferable to do a life settlement rather than let a life insurance policy lapse. In fact, clients can often get a great deal more for the policy on the secondary market than they could by surrendering it for cash value.
Gain Access to the Life Settlement Fiduciary Checklist and Help Your Clients:
- Figure out if they have enough money to pay for their policy, or if a life settlement is a perfect solution.
- Find out if they need funds for retirement, long term care insurance, an annuity or for health-related expenses? If so, a life settlement can be a good option to help relieve some of that financial burden.
- Avoid having their policy lapse and help them receive 5, 6 or even 10 times that amount through a life settlement?
Bottom line, it can’t hurt to ask but it may hurt not to ask. We always recommend a better safe than sorry approach to one’s fiduciary duty.
Gain access to this critical checklist now so you can be sure to protect your clients’ best interests.