While some may see it as unnecessary for wealthy individuals to own life insurance, there are three major reasons why it is just as important, the underlying reason being that life insurance is a financial tool. Many wealthy people lock up their assets in investments that cannot easily be converted into cash. If they die
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Research in 2008 shows that over $112 billion in universal, term, and whole life insurance policies is being lapsed annually. That number has only gone up since then due to senior citizens looking for ways to reduce their expenses in retirement by dropping their premiums. Financial advisors need to be aware of this issue and
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