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Recently, there have been several articles written in prominent newspapers and magazines that have addressed the phenomenon of some older life insurance policies “aging out” with the result being the policy owner ,who often has paid premiums for decades, not collecting the death benefit. The articles are more alarming than informing. This is an attempt to be more informing than alarming.
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As CEO of The Madison Group, a 53-year-old firm that has delivered over $500MM in life insurance benefits and has over $6B of life insurance in force, my first mission is to make sure we understand our role in making sure that promised benefits are delivered as expected. In fact, a constant mantra at our firm is, “We are not in the life insurance sales business; we are in the benefit delivery business.” It is not as easy as it would seem. While permanent life insurance is built to deliver a benefit, there are several fundamental issues which can derail the benefit delivery. Some of these are:
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About Policy and Taxation Group
Policy and Taxation Group is your voice in Washington on economic freedom. We advocate for policies that allow American families to fully enjoy the economic liberties and benefits of a robust free market unique to our nation. For over 25 years, we have been the loudest voice in the nation’s capital on eliminating the death tax. This ill-conceived tax has a destructive impact on families, family businesses, job creation, and the national economy.
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Have questions or would like more information about becoming a Supporter or donating? Please contact John Marino at [email protected].
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