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Since the introduction of paradigm-shifting universal life policies in the late 1970s, advisors and clients have had to reconcile optimistic sales illustrations with the in-force reality of values that are often less than expected. Forty years later, we still struggle with illustration disclaimers and failed policies. This presentation demonstrates new ways to advise clients about making current assumption life insurance policies meet their expectations and be in their best interest. This process diagnoses new and in-force IUL and VUL policies and explains how to discuss best (not lowest) premiums and outcomes. You will learn how to achieve consistency with the client's expectations and conduct a conversation with a client who already owns a universal life policy.
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Non-insurance advisors will have a better idea of how to guide a client to an appropriate type of life insurance policy based on their risk tolerance.
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Policy illustrations will be appreciated for their ability to describe how a policy might work - but NOT what it might be “worth” in the future.
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Appreciate how “probability of success” can transform the conversation about the real cost of buying and managing lifetime-use insurance policies.
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Learn how constant rate, “best price” IUL and VUL policy illustrations disguise the often disastrously negative effect of volatility.
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Be comfortable discussing “best premium” (note - not “lowest premium”) consistent with the client’s expectations and resources for new life insurance.
Konrad King (Everi Holdings, Inc.)
"Excellent presentation. I WISH I had seen this presentation before I purchased my current life insurance policy. FORTUNATELY, the Term life product I purchased had an excellent conversion clause and I have an excellent Financial Adviser who advised me to exercise it to obtain a Universal Life policy. I'm going to send the webinar materials to my daughter and recommend that she looks into get a life insurance policy based on what I learned today. Life changing information here!!!"
Jeff Sopko (BNY Mellon - AIS)
"This was probably one of the best webinars I've attended at CPA Academy. The presenter was incredibly well informed, well prepared, all while providing highly valuable information. I intend to review the policies of several close family members as a result of the discussion and would encourage anyone who can to attend a webinar from this presenter."
Paula Coyle (Paula L. Coyle, CPA)
"Dick was a great presenter. His session was jam-packed with information from start to finish. He kept the pace going, but it didn't seem rushed, which is a difficult balance to maintain throughout a presentation. I will say once again that CPAcademy presents the best CPE i've ever had over my 40-year career. Many thanks!"
Jay Bornstein (jay bornstein cpa)
"If you ever talk to a client about life insurance - you need to be familiar with these concepts. Otherwise you are just looking a random numbers which are generated by someone trying to sell a product. This session provides some simple explanations to make you conversant (not an expert) around very complex subjects!"
John Lauchert (Horizon CFO LLC)
"I consider myself rather knowledgeable about life insurance and was blown away about how little I really know. This presentation was absolutely fabulous. A must for anyone that really wants to understand the manner in which life insurance can fit into an estate plan from strictly a risk/reward perspective."
Lorri Flint (Lorri Flint)
"This was one of the best webinars I have experienced. I have an Indexed Universal Life Insurance policy and I now have a much better understanding of how it works and the assumptions behind the illustrations. Well done! The presenter covered a lot of material in a very organized and efficient manner."
John Muraski (North Oaks Financial)
"Dick Weber does an excellent job of breaking down the variable to consider in purchasing and maintaining a life insurance policy. I highly recommend this class to anyone working with individuals considering a life insurance purchase for their personal, estate, or business needs."
Robert Slowik (Robert A Slowik PA EA CFP)
"Mr. Weber is an eminently knowledgeable insurance counselor who has presented some excellent examples of insurance choices. A well worth the time to webinar for all who may be confused about some of the newest types of life insurance."
Richard Weber, MBA, CLU, AEP
The Ethical Edge, Inc.
President
dick@insurancefiduciary.com
(510) 868-8804
Richard M. Weber, MBA, CLU, AEP is a fee-only insurance expert, working as an Insurance Fiduciary for over 20 years. A 50-year veteran of the life insurance industry, he has been a successful agent, an insurance company executive, and now a consultant to insurers and their agents on the topic of productively serving a client’s interests.
He is the author of more than 350 articles encompassing products, sales practices, and the due diligence necessary to buy and sell life insurance and annuities. His research paper, Life Insurance as an Asset Class - co-authored with Christopher Hause - received the 2008 Academy of Financial Services "Best Paper” award.
Dick was the Society of Financial Service Professional’s 2012-2013 national President and was their Kenneth Black, Jr. Leadership Award recipient in 2008 in recognition of his “... exemplary leadership qualities and significant contributions to the fulfillment of the Society’s core values of ethic, education, and relationships.”
In 2009, Dick was elected to the National Association of Estate Planning Council's Estate Planning Hall of Fame - and selected to receive the Distinguished Accredited Estate Planner award and designation for “... significant and outstanding lifetime achievements and contributions to the practice and profession of estate planning.” Richard M. Weber, MBA, CLU, AEP (Distinguished) is a fee-only insurance expert, working as an Insurance Fiduciary for over 20 years. A 50-year veteran of the life insurance industry, he has been a successful agent, an insurance company executive, and now a consultant to insurers and their agents on the topic of productively serving a client’s interests.
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