In this episode, I spoke with Barry Flagg, Founder of Veralytic, Michael Browhawn, founder of Your Life Insurance Solutions and Bill Comfort, Owner of Comfort Long Term Care about managing life insurance policies.  We discussed in-force life insurance illustrations and  and how an advisor can transition from being a sales person to being a trusted advisor.

“When looking at a life insurance policy, you’ve got to understand three things: what’s being charged inside the policy and is it fair, what is the performance required to meet your expectations and is it reasonable, and are those performance expectations consistent with your risk profile. Cost, performance and risk - consumers have to understand that”. - Barry Flagg 

“When looking at a life insurance policy, break it down to the characteristics of different types of policies and then focus in on the premium flexibility (is it required or is it flexible), the investment risk which goes hand in hand with cash value (is there a need for cash value), the death benefit guarantee, and then focus on the cost.” - Michael Brohawn

“If you’re buying long term care insurance or have an interest in having a benefit like that, you have to work with someone who represents all of the different options, otherwise you will not get a fair comparison. It’s making sure that you’re exposed to being educated from a non-biased place as much as possible, knowing what all of the options are.” - Bill Comfort

Bios: 

Barry Flagg is the inventor and founder of Veralytic. Barry is a recognized expert in applying Prudent Investor principles to life insurance product selection and portfolio management and serves as sub-advisor to thousands of life insurance trusts. 

Michael Brohawn is the founder of Your Life Insurance Solutions. Michael is a pioneer in the trust-owned life insurance field. Michael, along with two partners, founded the first full-service trust-owned life insurance (TOLI) outsource firm in the country. Michael is the author of The Wealth Advisors Guide to Life Insurance. 

Bill Comfort is an independent LTC specialist agent with Comfort Long Term Care. Bill hosts the broadcast & podcast show: “Aging America Radio” with a focus on a wide range of topics supporting "successful aging".