Feature: how long do life settlements take to complete?
Settlement Watch
By Matt Brady
One of the inescapable facts of life settlements is that they take longer than anyone involved wants. But, according to speakers at the recent Life Insurance Settlements Association conference in Washington, D.C., there may not be much anyone can do about it. “Certain steps have to be done,” such as the underwriting and evaluating of a policy, noted Scott Kirby, co-president of business development and compliance issues for Orlando-based Advanced Settlements LLC. But there are things an advisor can do to minimize the time a settlement process takes, he added. Providing a complete file and application to a life settlement broker is an example. If documents are..
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Ask the expert: what to say about the new proposed laws?
Question: A lot of clients are not aware of proposals in my state for a new life settlement law and/or curbs on stranger-originated life insurance. My clients just want to “do something” with their old, under performing life policies. In view of that, should I discuss the new proposals with such clients when presenting the life settlement solution?
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Settlements and the rich: my two cents
Let’s just say it: The well-to-do do not always stay well-to-do, especially at the older ages. That means that the well-to-do may not only want, but need, life settlement options.Granted, it’s hard for a lot of people to drum up sympathy for people who seem always to have had the best of life’s opportunities and offerings. This no doubt reflects spite or reverse-envy, but it does not foster creation of a financial solution that will buttress that person or the larger community that may be called on to supply benefits. For financial advisors, a better response would be to explore whether the elder has...click here for more |
Quiz question: which state is getting criticized?
Which state’s swiftly passed law has been harshly criticized by the life settlement industry, particularly for including language setting criminal penalties for even unintentional involvement in stranger-originated life insurance?
a) Indiana
b) Iowa
c) Florida
d) West Virginia
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