More than half of Americans are missing out on an asset that they can use to completely transform their retirement. With rising premiums and other changes in their lives, an unwanted life insurance policy can be their ticket to a well-funded retirement. This is a huge opportunity, and it’s important to be familiar with how it plays out in each state. Let’s see how these updated life settlement laws are handled in your state.
California, like most states, has its own rules and regulations governing life settlements. If you are a life settlement provider in California, be sure to familiarize yourself with the nuances, as they do change from time to time. If you are applying to be a life settlement provider and looking to get a life settlement license, the following also provides information on how to accomplish this.
Life settlement providers and brokers play a significant role in connecting policyholders with buyers. But, your responsibilities go a lot deeper than that. You also have an obligation to ensure policy owners make well-informed decisions when it comes to selling their life insurance. This is especially the case for many brokers, who may have a fiduciary duty to adhere to their client’s best interests.
When an elderly parent’s health deteriorates, it can become necessary to appoint older children as trustees. A trustee takes legal ownership of the assets held by a trust and assumes fiduciary responsibility for managing those assets and carrying out the purposes of the trust. This includes managing financial assets such as life insurance policies.
The life insurance settlement industry is highly regulated to protect the interest of investors, as well as those insured. However, strict governance also comes with a very fluid regulatory landscape that can be difficult to keep up with. In this blog, we’ll discuss legislation that has been passed concerning life settlements in 2021, as well as other trends and changes we expect to see for the rest of the year.
Life insurance settlements have been around for over a century, yet many are still uninformed about the development of the process and how it came about. In this blog, we’ll highlight all the pivotal moments for the life settlement industry and how this has affected the industry today.
The COVID-19 pandemic has changed the way nearly every industry does business. Some of these industries have been negatively affected, while others have quickly gained steam in recent months by pivoting their overall business strategy. Since the onset of the pandemic in March 2020, life settlement industry trends have been closely monitored - and the results may surprise you.
Forty-three states and the territory of Puerto Rico regulate life settlements, affording approximately 90% of the United States population protection under comprehensive life settlement laws and regulations.