Unlocking Hidden Value in Life Insurance Policies for Your Clients: Life Settlements (On Demand Seminar)

MCLE Credits: 1.0
Ethics Credits Included: 0.0

MCLE Credit: 1.0 (Ethics: 0.0)
Live-Interactive Credit: 0.0
Designation Credit: 1.0 Trusts and Estates (Designations Information)
Price: $79 (Includes a downloadable audio version.)
Viewable Through: 05/31/2023


A pre-recorded streaming VIDEO replay of the April 2022 webcast, Unlocking Hidden Value in Life Insurance Policies for Your Clients: Life Settlements.

Topics Covered

  • 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 examines 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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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).

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