Wealth Advisor Resources

Even Older Insureds Could Benefit From a Policy Market Review

Michael Brohawn CFP®, CLU®, CAP®
Your Life Insurance Solutions

Aug 1, 2020

Tip #35

Your older clients should not shy away from a market review because of their age. They are often the ones with the least-efficient policies.

Life insurance has evolved over the years. Older policies built on less-favorable mortality tables are often the least-competitive policies. Your older clients may feel that they cannot improve their current situation with their life insurance, but that would be a mistake.

Your clients must have suffered no health setbacks since their existing policy was issued in order to take advantage of the better pricing and enhanced features a newer product might bring. That is because they will have to undergo new underwriting. But many of your clients are as fit as they have ever been. Even your older clients are living active, athletic lives and eating healthy. They should take advantage of their sound habits and good fortune.

A case that was reviewed in Chapter 7 of The Wealth Advisors Guide to Life Insurance is an excellent example of one couple who did. In that case, a couple in their 80s repositioned a universal life chassis policy into the same policy type with a lower annual premium, more significant guarantees, and a larger death benefit.

Does this happen for every client? No, but if your client is still healthy, it makes sense to find out if it would work for them. A policy review that includes a market review can often save your clients a substantial sum of money and/or increase the benefit they receive from their policy.

Free Book For Wealth Advisors

Michael put the knowledge gained from working with Fiduciaries and Wealth Advisors on thousands of life insurance policies into his first book, The Wealth Advisors Guide to Life Insurance.

An easy to read book, it provides Wealth Advisors with a background in life insurance and outlines the process for the proper selection, use, and management of life insurance.

If you are a Trustee, Attorney, CPA, Family Office or Fee-Based Advisor, Michael is offering you a free copy of the book for a limited time.

5 Steps for Wealth Advisors Acting as a Life Insurance Trustee

5 Steps for Wealth Advisors Acting as a Life Insurance Trustee

If you are a Financial Advisor, Attorney, CPA, or other Professional who has taken on a life insurance trust for profit or accommodation, read on…. Most poeple do not know it, but non-corporate trustees like you oversee almost 80% of trust-owned life insurance. You...

Would you put unlimited cash into a fund that guaranteed a 4% return?

Would you put unlimited cash into a fund that guaranteed a 4% return?

Back in 2018, I came across a Canadian universal life policy policy that paid at least a 4% guaranteed return on policy cash value.  The kicker – in the US, you are limited by tax law as to how much can be put into a life insurance policy – in Canada that was not the...

Download Our FREE Guide

7 Mistakes Your Client is Making With Life Insurance

More About 


Wealth Advisor






1900 South Harbor City Boulevard, Suite 328 Melbourne FL 32901