Why Attend?
- Be prepared to address the concern many seniors today have about protecting their families and assets against the likelihood and high expense associated with long-term care services, and discover why the National Association of Insurance Commissioners endorses Life Settlements as a means of creating funds to pay for long-term care expenses
- Certain policy characteristics and factors of the insured will determine its viability as a candidate for a Life Settlement—examine which policies are attractive to buyers and will bring purchase offers, and which ones will not
- Learn from and ask questions of speaker Richard Nottingham, CLU, ChFC—a Life Settlement expert who for 20 years has been assisting sellers with securing the highest possible purchase offers via the initiation of an auction process
Clients purchase life insurance for numerous reasons, and it is commonplace for owners of policies to decide to discontinue a policy prior to the death of the insured. Life insurance initially may be purchased to provide family security, to fund a business need, or to create estate liquidity for payment of taxes and other estate settlement expenses, but circumstances often change, or policy premiums may become unaffordable.
In these situations, your awareness of and appropriate recommendation of a Life Settlement can add value to your client relationships. A Life Settlement is a legal transaction in which the owner of an existing life insurance policy that is no longer wanted or needed transfers the ownership of it via sale to a licensed institutional buyer. The Life Settlement industry has been in existence for nearly 30 years; recent actuarial studies indicate that the face value of policies that successfully could be sold via Life Settlements exceeds $162 billion for the U.S. alone.
These transactions provide a highly regulated, safe, and confidential process that creates for sellers a cash price that dramatically exceeds the policy’s cash surrender value. A U.S. government study estimates that the average selling price of a life-settled policy is more than six times the amount of its cash surrender value.
This seminar will examine the fundamentals, regulation, process, and potential positive and negative consequences of Life Settlements, as well as federal taxation on Life Settlement proceeds.
| Registration Deadlines: |
| Webcast: |
10 minutes prior to seminar. If you register for a webcast the day of the seminar, your e-mail receipt will include a link to launch the seminar and download the materials. |
| Telephone: |
Online registration ends at 11:59 p.m. the day preceding the seminar
Call (800) 979-8253 to register up to one hour prior to the seminar |
Cancellation Policy: Cancellation/transfer requests will be honored until 5:00 p.m. the day preceding the seminar. You will, however, be charged $40 if you cancel or transfer your registration to a different seminar after the link to the materials has been e-mailed by Virginia CLE.
Full refunds or transfers are available up to two days after a webcast in the unlikely event that you experience technical difficulties.
MCLE Credit Caveat: The MCLE Board measures credits by the time you spend in attendance. If you enter a seminar late or leave it early, or both, you must reflect those adjustments accurately in the credits you report on your credit reporting form. A code will be given at the end of the seminar, which must be written on your MCLE form.
Can't Attend? E-mail
distance_ed@vacle.org to be notified when/if this program is made available as an online or USB seminar.
E-mail
publications@vacle.org to be notified when/if this program's seminar materials are made available for sale.