Interview with Lisa Todd, Head of Life and Disability Sales at MassMutual Strategic Distributors.
With the stock market so volatile and inflation at its highest level in 40 years, many of our clients are feeling apprehensive and anxious. What Should Advisors Do Now to Address Investor Anxiety?
A good advisor is a good listener. If you listen carefully, you will hear from clients that they are just as interested in protecting their portfolio and retirement income as they are in seeing their investment grow. Helping clients by providing the protection they seek can go a long way in alleviating their anxiety.
How can advisors help clients protect their savings and investments during these uncertain times?
If not already done, advisors can take advantage of a holistic approach to planning by integrating insurance with other financial assets.Insurance, especially whole life insurance, may not be the first asset Although advisers consider it a separate category, whole life insurance is completely uncorrelated to stocks and offers stability and peace of mind as cash values do not fluctuate in the stock market.
sWhole life insurance offers the protection that so many investors are looking for today.
How can the cash value of whole life insurance help you?
Whole life insurance, in addition to providing life insurance protection to your family for years of service, can use its cash value in a variety of useful ways. In retirement, the cash value of whole life insurance can provide additional tax-advantaged income during market downturns that give the portfolio time to recover. For business owners, cash value can provide access to liquidity that may otherwise be difficult or costly to obtain. In this way, a lifetime investment keeps you invested to weather the recession and gives your clients more choice.
Insurance may not be your advisor’s area of expertise. How should they approach when discussing how insurance can complement investments?
Many resources are available. Insurance companies of all kinds have insurance professionals ready to provide guidance and information.Wholesalers Including MassMutual Strategic distributors can explain how to best design their entire life as a solution for their client’s specific needs. There are also online tools. simplify Software that effectively explains how insurance manages a range of risks and deals with situations over a lifetimeOther challenges, such as the impact of access to cash valueIt is a tool that helps make insurance more understandable to clients and highlights the value of an advisor’s services. Insurance specialists manage the insurance elements every step of the way and support advisors the way they prefer.
What are the features of whole life insurance that advisors often overlook?
One is that a client’s insurability is fixed for life. No matter what happens, the person covered by whole life insurance remains insured no matter what happens to the client’s health after the insurance is secured. We can offer different options to meet your needs. For example, whole life insurance with long-term care riders can provide benefits and security that clients may have wanted but didn’t find affordable. Finally, whole life insurance, where the beneficiaries are family members, are more likely to view life insurance coverage favorably, and a comparison to build relationships with younger generations who may welcome advisor assistance in the future. provide advisors with unmatched opportunities.
An insurance product issued by Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield, MAO 1111) and its subsidiaries CM Life Insurance Co. and MML Bay State Life Insurance Co. (Enfield, CT 06082).
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