500,000 seniors a year lapse their life insurance policies, according to a study the Insurance Studies Institute, and 90% of these same seniors would have considered a life insurance settlement had they known about them. These same seniors are clients of financial planners. By attending this class, these planners will understand what a life insurance settlement is, the background behind them, legality, regulation, the process, values of policies and all of the aspects of how life settlements work. Real life case studies are also included. Life insurance settlements are not an appropriate option for many people, but through this class, planners will know when it can be.
Learning objectives - after the presentation, attendees will be able to:
1) Identify situations where life settlements may be of benefit to clients
2) Describe the process and timing to clients
3) Instruct clients as to the positives and negatives of life settlements, including taxation