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Blogs

5 Tools for Integrating the Life Settlement Solution

Dec 05, 2023

More than 9M policies lapse each year, and only about 3,000 life settlement transactions occur. How many more of those lapsed policies could have qualified for a life settlement – a buyout of existing life insurance for an amount greater than the cash surrender value and less than the death benefit? If only 1% of those lapsed could have qualified, that’s 90,000 policies resulting in billions to consumers over the cash surrender value.

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Everyday Success Story: Transforming an Underfunded Policy in an ILIT

Nov 20, 2023

Considering the financial landscapes many clients are navigating, here's an everyday success story that underscores the importance of valuing assets, particularly life insurance, in crafting comprehensive planning solutions. We recently worked with a client facing the challenge of an underfunded life insurance policy held within an Irrevocable Life Insurance Trust (ILIT). The policy, once thought to be a cornerstone of their estate plan, was underperforming and had become a source of financial strain due to rising premiums.

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3 Reasons to Discuss Longevity with Your Clients

Oct 05, 2023

As retirement has changed over the past several decades, longevity has become a vital component of financial planning. With people living longer, continued inflation, and rising healthcare costs, outliving one’s retirement plan is a real concern. This is why a frank discussion about health, longevity, and long-term care needs to be part of every retirement strategy session with your senior clients.

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The Keys to Longevity - It's never too late, but start now!

Sep 25, 2023

The more I study the secrets of longevity, the more confused I become. I’ve come to realize that you have to look for common themes and then try something to see if it works for you. I’m age 74 and trying to turn back the clock physiologically and end up living longer and healthier. I’ve always been involved in athletic endeavors, but I realize now that what I have been doing is not enough.

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What Happens to Corporate-Owned Life Insurance When a Key Person Retires?

Aug 31, 2023

A corporate-owned life insurance policy is generally purchased to protect a business in the event a key partner/employee of that business passes away. Among other benefits, the insurance policy helps to bridge the gaps the death of that individual causes and ensures the company continues to function. But what happens to that policy with the individual retires?

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Wealth Management Article - 2023 Mid-Year Outlook

Aug 24, 2023

Advisors are asking their compliance departments, “How can I tell my clients that I provide comprehensive and holistic financial planning, yet not disclose the life settlement option when it is appropriate?” With an aging population, many clients prefer to receive a buyout of their existing life insurance for an amount that is higher than their cash surrender value, providing liquidity for investments and other retirement needs.

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Shooting for the Centenarian Club

Aug 02, 2023

This is personal. If you’re not paying attention to clients like me, you’re missing out on a huge growing segment of the financial planning arena driven by baby boomers. At my age, I’m on the leading edge of the boomers. In September of last year, I broke my back when took a Superman flight over the handlebars of my mountain bike. I knew immediately this was different than my previous accidents where I was sidelined for several weeks because of torn muscles and ligaments in my shoulders. This time, I couldn’t walk for a while and my thumb and two fingers on my right hand were numb. This one really scared me.

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Compliance-Centric Life Settlements Serve Best Interests

May 19, 2023

Over time, compliance officers have come to recognize that if life settlements are pursued for the right reasons, after a thorough review of all non-forfeiture options and suitability, a life settlement could very well be in clients' best interests. It is a viable exit strategy that should be disclosed in a comprehensive policy review in partnership with a resource that offers a compliance-centric process. However, broker-dealers do not just allow life settlements carte blanche. They put strict procedural guardrails in place to protect the company and their representatives from liability risk. 

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What Seniors in Retirement Need to Know About Their Existing Life Insurance

Apr 11, 2023

Life settlements are the sale of an existing life insurance policy for more than the cash surrender value and less than the death benefit. Anyone age 65 or older who has developed health issues since their policy was issued and owns a universal life or convertible term insurance policy has a high probability of benefiting from selling their policy. Policies with a death benefit of $250K or more can qualify. Younger policy owners with serious chronic illnesses can also explore the life settlement option.

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Life Settlements: How to Avoid the #1 Most Costly Mistake

Mar 16, 2023

Responding to online advertising and generic value calculators can mislead client expectations. Many things in life rarely come about; when this happens, the average person doesn’t have the knowledge to make a good decision. This can be true for financial professionals and consumers alike. Understanding life settlements is one of those things. Where do advisors and consumers go to find the answers to questions about life settlements?

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