Properly advise your clients with an understanding of the life insurance industry and federal legislation.
Every year over $200 billion of life insurance policies lapse or get surrendered that could have been sold, which puts insureds in a bad financial position. Many fiduciaries to those families had no idea they could have helped their clients sell the policy instead of taking pennies on the dollar from the insurance carriers. This lack of understanding about life insurance resale value leaves both families and fiduciaries in a terrible situation that could have been avoided with education. This course will help the persons responsible for guiding fiduciary decisions for a family make the best decision on what consumers with a life insurance policy should do with that asset to leave them in the best financial position possible. By understanding the regulatory landscape, financial analysis, tax implications, and best underwriting practices, financial planners can set their clients up for success and preserve wealth.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Life Settlement Overview
- What Is a Life Settlement and Why Is It an Important Financial Planning Tool?
- The History of Life Settlements
- Legal and Regulatory Framework of Settlements, an Evolution
Life Settlement Basics
- Are Life Settlements Ethical?
- Providers vs. Brokers - How to Navigate the Buyer Options
- What Consumers Are Eligible for a Life Settlement?
Tax Implications and Fair Market Pricing
- How Is a Life Settlement Priced?
- How to Determine Fair Market Value for a Life Settlement?
- Life Settlement Taxation
The Life Settlement Process and Industry Drivers
- The Life Settlement Process
- How Life Expectancy Plays a Role in Value
- Competing Interests in the Transaction: Insurance Companies vs. Brokers vs. Providers vs. Funds vs. Consumers
The Future of Life Settlements and American Retirement
- The Rising Cost of Long-Term Care and How Settlements Can Help
- Comparing a Life Settlement Transaction to a Real Estate Transaction
- The Future of Life Settlements and How Technology Can Change the Industry
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 18, 2022.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.1
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 64 Minutes.
- NV CLE 1.0
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Credit
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Lucas Siegel
HarborLife Settlements
- CEO, Harbor Life Settlements
- Harbor Life helps families and fiduciaries to those families underwrite their life insurance policies to guide the important decision of whether a family should keep, sell, or surrender their life insurance
- More than 15 years of experience in the life settlement space; started working on the fund side of the business and moved to the brokerage side to help represent families
- Member of LISA (Life Insurance Settlements Association)
- Graduate, University of Colorado
- Can be contacted at [email protected] or 303-518-9765
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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