Estate planning is also a big contributor to insurance planning advice. While we don’t know what the government will do when many of today’s high estate tax limits sunset in 2026, there still remain many areas that planning techniques with insurance make sense, such as ILITs, SLATs, gift outs and more.
Ultimately, insurance planning is becoming an incredible opportunity for advisors to expand their service levels and cement client relationships by providing a truly comprehensive experience, further differentiating themselves from the competition. As they say, what’s old is new again, particularly as the rate at which the financial planning profession is changing continues to accelerate.
Jeremiah Barlow, J.D., is executive vice president and head of family wealth services for Mercer Advisors.