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Recently, there have been several articles written in prominent newspapers and magazines that have addressed the phenomenon of some older life insurance policies “aging out” with the result being the policy owner ,who often has paid premiums for decades, not collecting the death benefit. The articles are more alarming than informing. This is an attempt to be more informing than alarming.
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As CEO of The Madison Group, a 53-year-old firm that has delivered over $500MM in life insurance benefits and has over $6B of life insurance in force, my first mission is to make sure we understand our role in making sure that promised benefits are delivered as expected. In fact, a constant mantra at our firm is, “We are not in the life insurance sales business; we are in the benefit delivery business.” It is not as easy as it would seem. While permanent life insurance is built to deliver a benefit, there are several fundamental issues which can derail the benefit delivery. Some of these are:
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Please stay safe and healthy,
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pmsoldano@family-enterpriseusa.com 712 H Street NE Suite 1330
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About Family Enterprise USA Family Enterprise USA advocates for American Family business. We help family businesses communicate their challenges and contributions to American economic freedom to Legislators. We represent all American family businesses; not just specific industries and provide research to enhance the opportunity for success. We help family businesses continue to establish their unique business legacy. Family Enterprise USA is a 501(c)(3) non-profit organization.. Family foundations can donate.
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Have questions or would like more information about becoming a Member or donating? Please contact John Gugliada at jgugliada@family-enterpriseusa.com.
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