As any good planner knows, planners must stay on top of current life insurance trends in planning in order for their practice to thrive and to remain relevant to clients. The purpose of this chapter is to help planners to stay current by highlighting some of the significant developments that have taken place since the publication of the 7th edition of Tools and Techniques of Life Insurance in 2017 and to discuss their impact on the use of life insurance in planning.
Two such developments were the enactment of The American Taxpayer Relief Act of 2012 (ATRA) (effective at the beginning of 2013) and the United States Supreme Court’s ruling in 2013 that a key component of The Defense of Marriage Act (DOMA) was unconstitutional. Below is a discussion of life insurance planning trends created by the rise of ATRA and the demise of DOMA.
To learn about current state-based standards, read our article here.
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Reproduced with permission. Copyright The National Underwriter Co. Division of ALM