Genworth Bets Heavy on LTC Brokers to Save The Day

Michael Burton, CFP®, LHICCommissions, Industry Commentary, Insurance Regulation, Uncategorized

Genworth Rate Increase

Yesterday, Genworth Life Insurance Company (Genworth) hosted a webinar for Long Term Care (LTC) insurance brokers who have sold its products in Texas. The webinar was scheduled in response to the outcry of its brokers who, like myself, were stunned to learn there will be a 50.1% Genworth rate increase for policies we had sold to our clients. In this … Read More

The Exclusive Right to Represent: The Loyalty Exchange

Michael Burton, CFP®, LHICCommissions, Compensation, Industry Commentary

As the name of our company suggests, when we at Fiduciary Life Insurance Services agree to help someone acquire life insurance, we only do so under a fiduciary standard of care – an obligation we put in writing.  However, because of how contract law works, the obligation becomes legally valid only if there is an exchange of value.  In other words, … Read More