The Estate Planner's Guide To Product SuitabilityThe Estate Planner's Guide To Product Suitability

Charles L. Ratner

Out in the field, life insurance policies are generally not selected, designed or funded to most effectively support today's complex estate plans and premium-paying strategies. The mismatch between plans and strategies on the one hand and products on the other often creates real trouble down the road. Let's fix that by following some practical guidelines for determining a policy's suitability.

Life product suitability is critical for a number of reasons.

First, clients, especially high-net-worth clients, buy life insurance to fulfill any number of needs, in any number of planning contexts and with any number of premium-paying arrangements. The insurance industry offers a wide range of products that are, or can be, designed...