“For example, market volatility can have a strong impact on the performance of variable life insurance products, and fixed products can suffer in a low interest-rate environment, potentially leading to unintentional policy lapse. Other issues include the possibility of missing out on more affordable rates and newly available features like long term care riders,” Kimbrough said.Life Insurance Specialists Strengthen Financial Advisor Confidence When asked what would contribute to making them more comfortable discussing life insurance, 42 percent of financial advisors said they would be interested in either working with a life insurance specialist who can help identify solutions for their clients or attending a life insurance seminar aimed specifically at financial advisors. “Advisors are clearly interested in integrating life insurance into their practices,” said Kimbrough. “For example, by partnering with a life insurance specialist, they can offer a fuller range of portfolio options, solutions and overall advice to their clients without having to invest the time and effort needed to become experts. In many ways, the advisor is akin to a primary care physician performing an annual check-up and calling in a specialist for a second opinion. Through this type of partnership, advisors can ensure clients’ needs are properly addressed, without exceeding the scope of their own expertise.” NOTES TO EDITORS: The survey of 103 financial advisors was conducted by Saybrus Partners at the 2012 Financial Advisor Retirement Symposium in Weston Florida, which was held May 7-8. The 2011 survey was conducted online within the United States by Harris Interactive ® on behalf of Saybrus Partners between July 22-26, 2011 among 2,410 adults aged 18 and older, of which 786 said they currently have a financial advisor. It can be viewed here. ABOUT SAYBRUS PARTNERS Saybrus Partners, Inc. is a life insurance partnership firm that helps institutions and financial professionals nationwide make life insurance a consistent part of their practice through dedicated support, product expertise and personalized insurance solutions for basic protection, as well as policy recommendations for estate, business and income planning. It is a subsidiary of The Phoenix Companies, Inc. (NYSE: PNX). For more information, visit www.saybruspartners.com and www.phoenixwm.com. Saybrus does not provide tax or legal advice. In California dba Saybrus Partners Insurance Agency, CA license #0G81229.
Saybrus Partners is an insurance agency affiliate of Saybrus Equity Services, Inc., Member FINRA.BPD38368