“Financial advisors should take a second look at the potential of life insurance. These products can be a crucial piece of an advisor’s business and a means for an advisor to create deeper and long-lasting client relationships.
Life insurance is known to be a “sticky” asset, meaning that once they buy a policy clients tend to hang on to it––and the advisor they purchased it from––for the long term.
In addition to strong client retention, life insurance can help keep assets under management.
Another reason to recommend life insurance, particularly fixed products, is that they are not correlated to market performance and therefore can add stability to a client’s overall portfolio.”
Kevin Kimbrough, CLU, is principal, national sales, at Saybrus Partners Inc. and has written an in-depth look at the potential of adding the life insurance dimension to a financial advisor’s business, including the pros and cons, and the how-to’s. You can access it HERE.