Financial Advisors Want to Know: What to Look for When Reviewing Life Insurance Policies - Ep. 54 Tony Steuer

Welcome to the Financial Advisors Want to Know Podcast, I’m Catherine Tindall a CPA with Dominion where our focus is helping financial advisors navigate income tax planning and compliance for their firms.

Tony Steuer, CLU, LA, CPFFE is an internationally recognized financial preparedness advocate, podcaster, award-winning author and fintech advisor. He is an expert content reviewer for Nerdwallet and Bankrate.

Podcast Takeaways:
Reviewing Policies Is Critical: Many life insurance policies are left unmanaged, leading to potential lapses or unmet expectations. Advisors can add value by regularly reviewing these "orphan policies."

Order In-Force Illustrations: Advisors should obtain in-force illustrations to evaluate how a policy is currently performing and predict its future performance accurately.

Understand Client Goals: Effective policy reviews start by understanding the client’s objectives—ensuring the coverage aligns with their financial plan and long-term needs.

Spot Common Issues: Advisors should check for red flags such as insufficient premiums, policy loans, and unguaranteed terms, which can impact the policy’s longevity.

Education Empowers Advisors: Resources like Tony’s book or enforced illustration templates can help advisors confidently navigate life insurance policies and better serve their clients.

Connect with Tony:
https://www.linkedin.com/in/tonysteuer
https://www.tonysteuer.com

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