Why some life insurance could prove risky for consumers
Most American adults own life insurance, yet the buying process can be perplexing and pose traps for the unwary — and cause financial problems years down the road...
...A New York law that takes effect in February...requires agents to make life insurance recommendations in buyers’ best interests and without an eye to financial incentives like commissions. Consumer advocates call it the most stringent insurance rule of any state.
The CFP Board, a non-profit group that sets rules in the field of personal financial planning, in October implemented a similar rule for all financial advice...Read more at CNBC
by Greg Iacurci
January 19, 2020