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

Genworth Gets Two Moves. Its Customers Get One.

Michael Burton, CFP®, LHICIndustry Commentary, Insurance Regulation

Genworth Rate Increase

Today, I am having a conference call with two Genworth (GNW) executives to discuss some of the questions I raised in my prior post about GNW’s large rate increase here in Texas and across the nation. In preparation, GNW has generously supplied me with several policy forms (specimen policies) affected by the rate action. Based upon my first review of … Read More

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