Discover how to get more out of your client’s life insurance policy {PFP Section}

Jan 07, 2022

If you have a client who is considering surrendering a life insurance policy or allowing it to lapse, it is important to first understand the value of the policy and determine if it can be sold for more than its cash value. In this episode of the PFP Section podcast, Susan Bruno, CPA/PFS, and Jamie Mendelsohn, with Ashar Group, discuss:

• Why you can’t default to the surrender value as the FMV of the policy
• What makes a policy worth more than its cash value
• What is most relevant to potential buyers of these policies
• How has the pandemic impacted the life insurance marketplace

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. 

• Use the keep or sell quiz on Ashar Group’s website.
• Listen to part one, part two, and part three of this life insurance series.
• Access Susan’s tool to review life insurance policies with clients.
• Gain more expertise with the AICPA’s risk management and insurance certificate.
• Use the personal finance scorecard to begin planning conversations with clients.

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

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