Life insurance is perhaps the most misunderstood product financial product in existence today.
Unfortunately, it is for that reason that it is so improperly and ineffectively analyzed and sold. Trustees will be held accountable for the performance of their fiduciary duties if they fail to act prudently under the circumstances. Such circumstances involve the initial purchase of the policy- a difficult issue in itself unless the trustee has considerable background in the area or uses entities well versed in the subject. It is not unusual for the policy to quickly become a candidate for restorative actions unless the illustrations is based upon realistic expectations. Any agent that wins the illustration by contorting interest rates, mortality or expenses is certainly violating his or her own fiduciary obligation.