Unlocking Hidden Value in Life Insurance Policies for Your Clients: Life Settlements

MCLE Credits: 1.0
Ethics Credits Included: 0.0

Tuesday, April 19, 2:00 p.m. - 3:00 p.m. ET
  • Live Webcast
  • Live Telephone
Learn more about Virginia CLE webcast format
Learn more about Virginia CLE telephone format
Wednesday, June 8, 2:00 p.m. - 3:00 p.m. ET
  • Webcast with Live Q&A
  • Telephone with Live Q&A
MCLE Credit: 1.0 (Ethics: 0.0)
Live-Interactive Credit: 1.0 (all dates, all formats) Live Interactive MCLE Credit Symbol
Designation Credit: 1.0 Trusts and Estates (Designations Information)
Registration Fees: Webcast: $89
Telephone: $109

Information

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.

 

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Follow link to learn about coupons for lawyers in First Year in Virginia practice Follow link to learn about coupons for lawyers in First Year in Virginia practice Follow link to learn about Government Employee discount Follow link to learn about Legal Aid discount

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.

Schedule

COURSE SCHEDULE (April 19) (Eastern Time)

2:00 Unlocking Hidden Value in Life Insurance Policies for Your Clients: Life Settlements
3:00 Adjourn
  • Q&A will be handled via chat room for Webcast attendees.
  • Q&A will be handled via e-mail for telephone seminar attendees.

COURSE SCHEDULE (June 8) (Eastern Time)

2:00 Unlocking Hidden Value in Life Insurance Policies for Your Clients: Life Settlements
3:00 Adjourn
  • Q&A will be handled via chat room for Webcast attendees.
  • Q&A will be handled via e-mail for telephone seminar attendees.

Faculty

ABOUT THE SPEAKER

Richard E. Nottingham, WealthTrak Advisors / Virginia Beach

For 44 years, Dick Nottingham has built a reputation as one of the leading Financial Services Professionals in Hampton Roads, Virginia. A graduate of Old Dominion University with a Bachelor of Science Degree in Business Administration, he has earned the professional designations of Chartered Life Underwriter, Chartered Financial Consultant, and Accredited Estate Planner. He has been an instructor for the Life Underwriters Training Council and the Society of Financial Services Professionals. He is a Life and Qualifying member of the Million Dollar Round Table, having earned membership rights in that organization every year since entering the profession. He has qualified as a member of MDRT’s Top of the Table for 11 years.

During his career, Mr. Nottingham has assisted hundreds of business owners, professionals, and retirees in the design and implementation of business continuation, selective executive fringe benefits, long-term care, and wealth preservation strategies. In addition, he has gained recognition as an expert in negotiating Life Settlements for clients who wish to sell an unneeded life insurance policy.

Mr. Nottingham has shared his experiences and insights by being a frequent speaker and author. He twice has addressed annual meetings of the Million Dollar Round Table in Boston and Chicago and has spoken frequently throughout Virginia to various professional groups such as The Society of Financial Service Professionals, the Financial Planning Association, and the Richmond Estate Planning Council. He has had articles published in Inside Business newspaper, Life Association News, Insurance Selling, California Broker, and National Underwriter magazines.

Mr. Nottingham is active in several business, charitable, and civic organizations. Among them are the Hampton Roads Estate Planning Council, The Society of Financial Service Professionals, and The Samaritan House. He is President of Cape Financial, Inc. (trading as Nottingham Life Settlements).

Locations, Dates and Fees

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