2012 1116 - ThinkAdvisor - 11 ways to sell IUL more ethically, By Bill Coffin - [link]
Indexed universal life sales are the fastest-growing segment of the life industry thanks to the protection they provide against market downturns while still giving policyholders the opportunity to invest profitably. But IUL is a complicated product, and those who sell it face the looming possibility of a federal fiduciary standard that would open agents and brokers to serious legal liabilities. This, at a time when clients already have low expectations of ethical behavior from their advisors and agents.
To manage the risk of suitability missteps, Richard Weber, president of The Ethical Edge, gave NAILBA 31 attendees a list of best practices brokerage general agencies can adopt to become better advocates for their clients and to manage expectations realistically.