Why some life insurance could prove risky for consumers

By Greg Iacurci January 19, 2020 CNBC

Most American adults own life insurance, yet the buying process can be perplexing and pose traps for the unwary — and cause financial problems years down the road...

...A New York law that takes effect in February...requires agents to make life insurance recommendations in buyers’ best interests and without an eye to financial incentives like commissions. Consumer advocates call it the most stringent insurance rule of any state.

The CFP Board, a non-profit group that sets rules in the field of personal financial planning, in October implemented a similar rule for all financial advice...