Bill Boersma: On Life Insurance

In my last post I brought up the concept of Jumbo Limits which is a term utilized in life insurance underwriting that most consumers and advisors do not have to regularly deal with. Even when they do, this is something the insurance professional deals with behind the scenes and it may never be discussed with the clients.

The concept of Jumbo Limits and the potential repercussions of ignoring them is very important and be can be confusing to people, even agents, who are treading in unfamiliar territory. A common Jumbo Limit is $65,000,000 of life insurance though it can be higher or lower and it is often adjusted by age. Read more…