Are Advisors Missing An "Opportunity" To Talk About Life Insurance, Or Just Not Interested?

Wednesday, August 17, 2011 07:47
Are Advisors Missing An

Tags: S&P

A new survey out there warns that advisors aren't bothering to discuss life insurance with their clients. While this needs to be part of a planning discussion, the implications aren't clear.

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Saybrus Partners is in the business of helping advisors recommend insurance polices to their clients. Thus, when the firm says that only 40% of the clients out there have talked about insurance with their advisors, its interests are pretty explicit.


Obviously, the more advisors out there who are talking about insurance as part of a comprehensive financial plan, the more potential business a company like Saybrus can do.


The subtext behind the word "opportunity" is that life insurance could be a revenue enhancer, but advisors are just not taking advantage of it. 


However, given the licensing considerations, simply telling advisors they need to be pushing life insurance doesn't quite cover what the advisors need to know.


Should they refer their clients to outside specialists or agents? Is there a pay-for-play element in these referrals? How can advisors double-check to make sure the outside agent is providing the right coverage?


Spelling out just a bit of this would help us determine just how much of an opportunity advisors are giving up by not bringing up life insurance more often.

Comments (1)


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My clients typically refer insurance matters to top specialists who do not do investments on a cross-referral basis. They feel they have enough on their plate with portfolio management to develop the expertise on insurance.
This e-mail address is being protected from spambots. You need JavaScript enabled to view it , August 17, 2011

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