Reducing Whole Life Insurance Dividends When Running Illustrations

For years, insurance agents, companies, and purchasers have looked at hypothetical ledgers that delineate future policy values in an attempt to articulate policy functionality and understand how one policy's features come together and work compared to another.  Additionally, aggressive selling of policy projections overstated by extraordinary economic circumstances from the 1980s resulted in the industries obsession with hedging projections all in the name of full disclosure.

As a result of this cautious approach to depicting future policy values, 

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IPB 134: Holistic Financial Planning is Poised to Win Big

To kick off the new year, we are raising the white flag.  We have to concede a position we've long held because consumer sentiment appears to overwhelmingly head in the opposite direction.  For years, we've lampooned the notion of the “holistic” financial planner.  Simply, the notion that one person or small firm encompasses the entire spectrum of financial planning facets that you will face throughout your life.  The appeal is a one-stop shopping experience where one outfit can take care of your investment, insurance, tax, legal, and strategical financial life.  Sounds awesome in theory, but we've held sharp skepticism and for good reason.

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Why don’t more Financial Advisors Sell Life Insurance?

The holiday season now firmly has its grip around many of us and since we opted not to produce an end of the year podcast that answered questions we receive from various readers and listeners, I figured I’d entertain a question that came up recently that has been asked probably twice before in emails sent to us. Recently, this email showed up in our inbox:


Just curious. You’ve spent a lot of time highlighting the merits of life insurance as more than just something I buy to give my wife and kids money should I die and I find it very interesting. However, why don’t I find other financial advisors talking about this? To date, I’ve worked with four different advisors and only one of them really cared about how much life insurance I had (the others didn’t even really want to talk about life insurance). So why don’t they know about all of this?

Thank you for your time – Seth W.

Seth was gracious enough to grant my request to make my response in a public blog format so here’s the answer, for Seth and anyone else who has wondered this same thing.

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