Everybody loves working with wealthy clients, but finding success in this desirable demographic means you must bring more potential — and more complex — solutions to the table to fill their various needs.
The June issue of Life Insurance Selling features three articles that focus on opportunities and ideas for working with high net-worth (HNW) clients. Guy Baker, MSFS, CLU, and Stanley Mountford write about the pros and cons of Discounted Private Split-Dollar hybrids. The product can be a great way to minimize taxes for HNW clients, but if it is too aggressive and not structured properly, it can also put them at risk of a costly IRS challenge.
As the current estate tax rates are scheduled to sunset at the end of this year and uncertainty about future rates and limits persists, Victor Sanchez, M.B.A., CLU, says in his article that it's time to reframe your discussions with HNW clients to focus on legacy planning rather than estate tax solutions.
