According to a recent survey, a majority of insurance professionals believes innovative technologies will expedite the application and issuance process.
GFD Blog Entries
Wealth advisors are polishing their selfie sticks and perfecting their avocado toast recipes in anticipation of the flood of incoming high net worth millennials. According to research from Swiss bank UBS, global millennial wealth could hit $24 trillion as soon as 2020.
And if you're a wealth advisor who thinks of this generation as tech-obsessed egocentric lounge-arounds, you may be disappointed by your customer acquisition rates. Common misconceptions and biases about the largest consumer generation could lead you astray.
When you're young and healthy, it's still wise to plan for the day when you won't be. These days, more than one-third of American adults have advanced medical directives in place for end-of-life care.
So what's stopping the other two-thirds? Many are bogged down by misunderstandings about what advanced directives are and what they do. One persistent myth says that these statements order doctors and nurses not to treat or resuscitate patients with ADs. While ADs can do that, they can also advise medical staff on how to manage pain and comfort during hospice care.
It sounds like a bad movie plot: An eccentric millionaire leaves his fortune to his... cat?! But real life isn't Hollywood. Pets cannot be beneficiaries to an estate. But that doesn't mean you can't write your four-legged friends into your will and ensure they have a great life in the event of your passing.
One study found that about 4 out of 10 instances of pet re-homing occur when a friend or relative gives a pet to another friend or relative, primarily because of reasons having to do with cost and housing issues. Proper estate planning can circumvent these problems.