h3>Here’s our latest post on LinkedIn..
Which definition would you prefer for your clients – “any permanent life insurance product currently available” or “will be able to convert to a permanent product of our choosing”? The consequences for picking the product with the wrong definition can be severe. Two recent client situations: First, the uninsurable client wanted to convert and keep the policy or do a life settlement (the conversion product was so inferior to other products that conversion was impractical) and Second, a potential $40 million conversion, the product was inferior to other products within the same company; but luckily the client is insurable and will get better coverage elsewhere. I would like to publicize this issue. Have you run into issues regarding conversion for your clients?
Albert E. Gibbons
Al Gibbons is the past President of the Philadelphia Estate Planning Council and Recipient of their 2005 Distinguished Estate Planner Award.
Al is expanding his social network and looks forward to offering his services nationwide. More about Al Gibbons: • Creator of The 80/20 Estate Plan • A talented thinker, speaker and writer with a national reputation, Al is often sought after to explain what he does and why his unique process is so effective for clients. • Offering the right solutions to advisors • Helping you exceed your clients' expectations • Newsletters, video and audio available to assist you with complicated clientele matters
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