If you’re like most people, you bought your life insurance policy because you wanted to take care of your family.
Over the past few years, we’ve found that life settlements have gradually been moving more into the mainstream financial world. As we meet with advisors, we find that many more know about this secondary market solution than was true in the past.
How to talk to your clients about the idea of selling their life insurance policies.
Wealth managers and estate planners are becoming more familiar with life settlement transactions, in which your client sells his policy to a third-party investor and receives a cash payout, thereby monetizing the asset immediately. The new owner takes responsibility for paying the premiums and collects the policy’s death benefit when the client passes away.
ORLANDO, Fla., Oct. 17, 2017 (GLOBE NEWSWIRE) -- Many American families today are facing financial security challenges and need to know their life insurance policies may be able to be monetized to help them address those financial needs, according to E. Benjamin Nelson, a former two-term U.S. Senator from Nebraska.
This summer, the State of Florida gave a jolt to the growing “Senior’s Right to Know” movement in America – and all registered financial consultants need to be aware of these latest developments.
As millions of baby boomers continue their mass exodus from the workforce to retirement, they are already coming to grips with the reality that investment returns in the coming years are unlikely to keep pace with those of recent history, as illustrated by the modified projections recently used by Calpers and other major institutional investors. Now comes a new study that adds insult to injury: the principal driving force for these depressed returns is none other than the baby boomer generation itself.
This summer, the Certified Financial Planners (CFP) Board is proposing some bold changes to their fiduciary standards. Many of the approximately 77,000 CFPs in the United States could be impacted.
ORLANDO, Fla., June 27, 2017 (GLOBE NEWSWIRE) -- Florida Gov. Rick Scott signed legislation yesterday that contains a key consumer disclosure requirement to protect Florida consumers who are considering making changes to a life insurance policy.