The LECP Collective empowers professionals to network with solution and service providers to share best practices, directly access subject matter experts, research, training and resources; and provide thought leadership so we may continue to address the changing needs of the market.
Accident, critical illness, and hospital indemnity products are often not top-of-mind but offer incredible value as stand-alone products, while also working well together when paired with health insurance.
At the next Advisor Today on Wednesday, May 31 at 12 pm eastern, find out how these products can provide a whole health solution for your clients and offer advantages to agents looking to grow their business.
For your clients who are homeowners aged 62+, a Home Equity Conversion Mortgage (HECM, commonly called a reverse mortgage) loan offers some distinct advantages over other types of home-equity-release loans.
According to a survey conducted by Clever,* about half (51 percent) of retirees believe they will outlive their savings. Perhaps even more worrisome, the study also found that 65 percent of retirees say they are not financially secure. They may be facing any number of financial challenges, including how to best pay for long-term care or combat recent jumps in the prices of food, gas, and just about everything else.
As a financial professional, you want to give your clients the best chance at financial success. For most homeowners aged 62 and older, home equity represents the largest portion of their overall net wealth, usually dwarfing their other assets (e.g., retirement savings). While home equity is good, unless the home is sold or the equity is tapped, it is of essentially no functional value to a homeowner in retirement because it is generally very illiquid.
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National Association of Insurance and Financial Advisors
1000 Wilson Boulevard, Suite 1890
Arlington, VA 22209
Phone: 877-866-2432
lhc@naifa.org
