Can you buy too much life insurance?

Michael Burton, CFP®, LHICExplosive Facts, Industry CommentaryLeave a Comment

Too Much Life Insurance

September marks the beginning of Life Insurance Awareness month, wherein the industry urges its collective sales force to remind everyone how important life insurance is . . . and that they probably don’t have enough. Since you’ll have an ocean of agents fully equipped to show you why you need more life insurance, I thought I might offer up a … Read More

A Mind-bending John Hancock Surprise

Michael Burton, CFP®, LHICComparison Tables, Explosive Facts, Fractional Premium APRs

In my most recent post, I published a table of Fractional Premium APRs for every major company in the life insurance industry.  To conduct that research, I used quotes for a $1,000,000, 20 Year Term policy issued to a 45 year old male in excellent health.  In that post I indicated that I had spot-checked other policy sizes and term durations to determine … Read More

A Table of Fractional Premium APRs in the Life Insurance Industry

Michael Burton, CFP®, LHICComparison Tables, Explosive Facts, For Professionals, Fractional Premium APR

Fractional Premium APRs image

All life insurance companies allow their policy holders to choose the frequency of their premium payments.  The most common payment modes include annual, monthly, quarterly, and semi-annual.  When a policy holder elects to pay a fractional premium (anything other than the full annual premium for the coming year of protection), almost all life insurance companies add to the costs of the policy. In … Read More

Explosive Fact: The Suitability Standard Doesn’t Govern Most Insurance Transactions!

Michael Burton, CFP®, LHICExplosive Facts, Fiduciary Standards, Insurance Regulation

Life Insurance Suitability Standard Explosive Fact Image

Lost in the din of the debate over the Department of Labor’s Fiduciary Rule is the reality that the life insurance industry is not even being held the suitability standard, yet. Don’t believe me?  Look what I found buried in the last pages of a mandatory Continuing Education course I’m presently taking: Traditionally, the legal requirement that a life insurance recommendation … Read More