Don’t Send Remaining Term Life Insurance To The Scrapyard
April 18, 2019 by Stephen Jass
If you owned an exotic antique car, with buyers lined up around the corner to make offers, it would not make sense to send that car to the scrapyard.
This metaphor paints the picture of how remaining term life insurance has often been handled, and it is an example of how the life insurance industry has seen a decline in partial term conversions.
The correct steps are taken by the fiduciary in determining the amount of term insurance the client should convert but, instead of appraising the remaining term insurance, it is scrapped.