Life insurance sales boom in first quarter

Risk-averse clients are flocking to products' returns, tax advantages, say broker-dealer execs

Shaken by the recession and concerned about risk, brokerage firm clients are buying life insurance... First-quarter sales of life insurance policies at major independent broker-dealers were up by at least a third, compared with a year earlier, executives say.

“Clients are more in a risk-management mode, so advisers who may have not been using life insurance as part of their practice, except in a reactionary way, are now more proactive because of the guarantees in the contract,” said James Swink, a vice president at Raymond James Financial Inc., who manages the firm's life insurance marketing and sales...

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