- Why "side by side" life illustration comparisons are now considered “misleading”, “fundamentally inappropriate” and unreliable according to guidance from industry regulators - Iinformation required for decision-support material that conforms to the fiduciary’s duty to exercise care, skill, prudence, and diligence. - When life insurance product recommendations are in your client’s best interest (as defined by NY Regulation 187 and generally-accepted fiduciary principles including the FPA Practice Standard). - How to compare life insurance illustrations to life insurance industry benchmarks- just as you compare investment performance to investment industry benchmarks
Learning Objectives
- Upon completion of this course, you'll be able to:
- Understand why “side by side” life insurance illustration comparisons are considered misleading and inappropriate under current regulatory guidance.
- Identify the key elements of compliant decision-support materials that meet fiduciary standards, including care, skill, prudence, and diligence.
- Evaluate life insurance recommendations using benchmarks and best practices aligned with NY Regulation 187 and fiduciary principles to ensure clients’ best interests are served.
Major Topics
- Why "side by side" life illustration comparisons are now considered “misleading”, “fundamentally inappropriate” and unreliable according to guidance from industry regulators
- Iinformation required for decision-support material that conforms to the fiduciary’s duty to exercise care, skill, prudence, and diligence.
- When life insurance product recommendations are in your client’s best interest (as defined by NY Regulation 187 and generally-accepted fiduciary principles including the FPA Practice Standard).
- How to compare life insurance illustrations to life insurance industry benchmarks
- just as you compare investment performance to investment industry benchmarks
