Shift to Wealthier Clientele Puts Life Insurers in a Bind

Wall St. Journal:  “life-insurance companies gradually have shifted away from their broad historical base of middle-class households. Instead, statistics show, an increasing portion of insurers’ business consists of selling large policies to wealthier Americans, often as part of complex estate-tax plans.  The shift means that a growing proportion of the tax benefits of life insurance goes to the well-off, not to the middle class that once was the industry’s backbone.”