Impactful Life Insurance Strategies for Financial Advisors

The Bucket Plan® On-Demand Podcast

Impactful Life Insurance Strategies for Financial Advisors

In This Episode

About the episode:

Life insurance can help protect clients and their families in more ways than you might think.  In honor of “Insure Your Love” month, we’re exploring how life insurance can play a pivotal role in securing your clients’ financial futures.

Join host Dave Alison, CFP®, EA, BPC, President and Founding Partner of C2P, and special guests, Stoyan Petev, CFA, CFP®, CLU, ChFc, Senior VP of Advanced Markets at C2P, and Walter Young, MBA RICP, Business Development Officer and financial representative at JL Smith, for a deep dive into the complexities and opportunities of life insurance within financial planning.

Key Topics Covered:

  • The Misconceptions of Life Insurance: Unraveling the “three Ms” — Misunderstood, Mismanaged, and Mis-sold aspects of life insurance, and how advisors can shift perception to view life insurance as a critical asset in financial planning.
  • Life Insurance as an Asset: Discuss the strategic incorporation of life insurance into clients’ balance sheets, whether for personal or business use and its role as a bond alternative in investment portfolios.
  • Real-Life Applications and Strategies: Sharing compelling stories and examples where life insurance has provided solutions to complex financial situations, including inheritance planning and leveraging cash value for loans.
  • Addressing Unique Retirement Challenges: How life insurance can be used to address the retirement planning challenges specific to women, who traditionally live longer and may have gaps in employment affecting their savings and Social Security benefits.
  • Innovations and Trends in Life Insurance Products: Insights into the latest product developments, such as fee based VULs and the impact of recent IRS rulings, offering advisors new tools for client management.
  • Holistic Financial Planning with Life Insurance: Integrating life insurance into a comprehensive financial plan, emphasizing the importance of balancing risk and exploring both “love” and “greed” policies to meet diverse client needs.
  • Technical Deep Dive: Exploring the mechanics of life insurance policies, including the evaluation of volatility-controlled indices and the strategic use of different life insurance products to enhance portfolio performance.

Learn the value of life insurance through practical advice, real-world examples, and professional insights. Whether you’re looking to refine your approach with clients, enhance your results, or simply broaden your knowledge, this episode is a must-listen for every financial advisor aiming to leverage life insurance effectively.


Impactful Life Insurance Strategies for Financial Advisors

About the guests:

Stoyan Petev, CFA, CFP®, CLU, ChFc, serves as the Senior Vice President of Advanced Markets at C2P, where he spearheads the in-house life insurance division and assists advisors with his knowledge in investment sales and sophisticated planning. His role is pivotal within C2P’s planning-first RIA, Prosperity Capital Advisors, serving both on the Investment Committee and Leadership Team. Stoyan’s journey before C2P spanned nearly three decades, during which he honed his skills across various capacities such as an advisor, distributor, research and investment analyst, due diligence officer, and consultant.

This extensive background has equipped him to assist clients and financial professionals in crafting and implementing comprehensive financial plans, alongside his contributions to the development and consultancy on life insurance and annuity products for insurance companies. His commitment to education and risk management extends beyond professional advisement, as evidenced by his multi-state insurance licensure and holding Series 7, 24, 53, 63, and 65 licenses. Stoyan is an advocate for financial literacy, particularly within immigrant communities, and has shared his knowledge as an adjunct instructor at Lindenwood University.

Walter C. Young, MBA, RICP, serves as a Business Development Officer and Financial Representative at JL Smith. He is renowned for his speaking engagements, panel discussions, and his status as an Amazon best-selling author with notable works like The 5th Option and the trademarked parable “The Desert Island Dilemma™.” Walter excels in educating his audience about the retirement planning challenges faced in today’s economy and the shift away from traditional pension systems. His presentations, known for their compelling mix of narrative, humor, and insightful financial theory, captivate audiences, leading to extended discussions well beyond the scheduled events.

With a career that kicked off in the early 1990s in the financial sector, Walter took a pivotal detour to work with a consulting firm after completing his MBA. This experience illuminated the financial strategies of top-tier corporations, focusing on risk mitigation, minimizing opportunity costs, and enhancing cash flow to bolster shareholder value, insights that he brings back to the realm of personal financial planning with a unique perspective.