Instead of rejecting permanent life, advisors should do their due diligence and help clients understand the respective cost and benefit of both term and permanent life. And instead of taking issues with high fees, advisors should search for good products with lower costs and fees. Clients are entitled to be informed of the relative merits of these financial instruments before making any decision on getting the right protection for themselves and their families. Advisors should not make the decision for them by recommending only the cheapest option, not to mention that it may not even be what the clients want, if they have had the opportunity to evaluate for themselves the benefits relative to the cost of a financial instrument like permanent life.

Eva L. Levine, J.D., CFP, RIA, is the principal of Plenaris Advisory, based in San Jose, Calif. The firm offers comprehensive financial planning in the San Francisco Bay Area.

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