Learn the process needed to determine the best use of an existing unwanted life insurance policy.
As financial planning practitioners, our clients will seek our guidance on old whole life insurance policies. They either don't think they need to keep the policy for pure insurance purposes, can no longer afford it, or don't see the benefit of continuing to pay premiums. After we first analyze their situation to determine whether they truly don't need the insurance, we must recommend a solution for the old policy that works best for their given situation. This topic will detail many of the most common and successful strategies that practitioners can use to help their clients deal with unwanted life insurance policies and go over the specific planning details for each of those strategies.
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Why Lorman?
Over 36 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
What Is Life Insurance for?
- Unwanted vs. Unneeded
- Keeping the Policy
Simple Options for Letting the Policy Go
- Surrender for the Net Cash Value
- Allow the Policy to Lapse
- Modify - Change Death Benefit/Premiums
More Complex Options
- 1035 Exchange
- Selling the Policy
- Seek Help With Premium Payments
- Donate the Policy to Charity
Closing
- Recap and Recommendations for Next Steps
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More Program Information
Why Lorman?
Over 36 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on December 16, 2021.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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More Program Information
Why Lorman?
Over 36 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
DJ Hunt, CFP®
Moisand Fitzgerald Tamayo, LLC
- Senior Financial Advisor at Moisand Fitzgerald Tamayo, LLC
- Retirement, tax, insurance, estate, and investment planning
- Writes a quarterly column for Rethinking65.com
- Member of NAPFA, FPA of Central Florida
- B.B.A. degree in finance, West Texas A&M University; certificate in financial planning, Boston University; Certified Financial Planner professional
- Can be contacted at 321-235-5400 ext. 110 or [email protected]
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More Program Information
Why Lorman?
Over 36 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
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- Course Manuals
- Executive Reports
- White Papers and Articles
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- State Specific Credit Tracker
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Questions? Call 877-296-2169 to speak with a real person.
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