Post-truth: an adjective relating to circumstances in which objective facts are less influential in shaping opinion than emotional appeals. It’s a word that is associated with politics, but I find the idea so encompasses the landscape of life insurance sales. Consider these quotes: “culture in which debate is framed […]
Recent news about the General Motors deal inspired me to write again about the pitfalls of participating Life Insurance Plans. There needs to be a better understanding of the risks of using non-guaranteed products like Participating Whole Life. The article below, although speaking about “benefits”, articulates the environment of risk […]
I am often the odd duck in the room. I regularly find myself surrounded by advisors debating the answer to any given problem and invariably there is an argument of opinions. But I’m a math guy in a financial world, so opinions are not productive and mostly irritating. In […]
The world has changed a lot, life insurance advisors… not so much. And their numbers are dwindling; some estimates point to a 25% decline in the population. Not on the brink of extinction for sure, but a little disconcerting. What does that mean for the future? Virtually every […]
I wanted to email a response to Dr. Dentist that pointed out the absurdity and irony of a “financial advisor” that couldn’t calculate the value of a financial product simply because it wasn’t under his management. Energy better spent examining the “value” of the advisor.
The mathematical detail and complexity of an insurance product, is a thing of pure beauty to someone like me who finds numerical structures as captivating as a Picasso.
And for those who can really understand the contract intricacies, the game is on! It's like taking on the house in a gambling casino knowing you have the advantage.
Participating whole life is commonly referred to as a black box; you can’t see into it to evaluate the moving parts. The performance factors are so intertwined that you cannot separate the components to really measure the future performance with realistic expectations. But it certainly isn’t sold that way! Who […]
A dictionary definition of trust: “A psychological state where a person accepts vulnerability based upon positive expectations of the intentions of another”. There is a lot written about the bad rap insurance salesman have… How the vast majority are really good folk with only the best of intentions. I agree. […]
Virtually every life insurance product is sold with an “illustration”. These illustrations often become the framework of client understanding and the pivotal selling point for the broker. But illustrations are just that, pictures of events that might be. Not contractual outcomes. The more creative the picture (and picture-maker), the greater […]