Why every senior has a right to know about life settlements

A popular narrative in mainstream news media coverage is that the lack of planning for individuals approaching retirement is pointing the way to a serious national problem. Health care and other costs are on the rise and a great many seniors are in a state of uncertainty about their finances. For many, a state of panic sets in when they realize their resources may not be enough to pay for the comfortable retirement years they once envisioned.

As one of the most overlooked assets in an individual’s investment portfolio, a life insurance policy is often not utilized to its full potential. Why? My experience over the past few decades in this business has shown me that it’s because individuals are unaware this asset creates liquidity options for them and, unfortunately, their professional advisors don’t understand all alternative uses for a life insurance policy. Many advisors, acting out of the best intentions, simply advise their clients to lapse or surrender the policy, roll it into a paid-up policy, or reduce the death benefit to save premiums.

But what about a life settlement?

Many seniors — and many of their financial and legal advisors, too — are not aware that a life insurance policy is personal property and may be sold as a life settlement for a value substantially greater than its cash surrender value. As a result, billions of dollars (face value) of policies that are no longer needed, wanted or affordable are lapsed and surrendered back to life insurance carriers by seniors who might have sold them for a cash payment. According to a Government Accountability Office (GAO) study on life settlements, the amount policyholders who settled their policies received was up to seven times that of the lapse or surrender value.  That represents hundreds of millions of dollars of value given back to insurance carriers.

Studies show that nearly 80 percent of baby boomers and seniors are interested in life settlements as a means to supplement retirement finances.

So, let’s talk about a senior’s right to know about their options with life insurance policies. Specifically, I believe they ought to have a right to know that there are options they should consider before lapsing their policy.  Six states — Kentucky, Maine, New Hampshire, Oregon, Washington and Wisconsin — have already passed various versions of a life insurance disclosure requirement, requiring insurance carriers to notify seniors in certain circumstances of the alternatives to lapse or surrender of their policy. These alternatives may include options such as the following:

Please visit the LifeHealthPro link below for the blog on its entirety:
http://www.lifehealthpro.com/2014/08/13/why-every-senior-has-a-right-to-know-about-life-se

2013 Conning Report – A Treasure Trove of Information

LISA-200X100In early January Conning, Inc. released their 2013 report, “Life Settlements, A New Opportunity in Smaller Policies”.  The report offers a treasure trove of information for our industry.

Three things stand out in the report.  First, Conning reaffirms that the size of the potential market for secondary transactions is large.  Conning estimates an average face value Net Market Potential (NMP) of $122 billion for the next ten years.  Conning defined NMP as the total face value of policies that meet investor criteria and whose owners would consider selling their policies. That should put to rest concerns about supply.

Second, attracting investment capital remains a challenge according to Conning:  “Liquidity appears to be the largest hindrance to a strong return of capital to life settlements.”  The set of investors willing to commit capital for 8 to 10 years without an “effective tertiary market where already settled policies can be sold” will remain limited until this issue can be addressed.   A robust market for policies with shorter life expectancies attached would increase the supply of short duration policies and, in turn, offset liquidity concerns, thus improving the environment for growth of investment capital.  Conning concludes that “a shift toward nursing home care may help reduce the liquidity risk created by holding policies with longer life expectancies.”

Third, Conning reports a favorable view of the life settlement market’s entry into the long-term care sector:  “As elderly individuals, and their families, look for ways to pay for LTC, life settlements offer an additional source of LTC funding.  This creates a new opportunity for life settlement investors.”  In estimating the size of market, Conning presents several approaches for investors to consider.  In one analysis, Conning suggested that there may be more than $40 billion of death benefit that could be sold by policyowners seeking to finance their long-term care needs.  The opportunity for life settlement growth of smaller face policies of shorter duration is significant and will require changes in business plans and strategies of market participants, says Conning.  Relying on intermediaries to originate policies and the complexity of the life settlement transaction will be factors that could limit the profitability in small face transactions.  Time from submission to closing will have to be reduced and the transaction process streamlined.  Marketing and awareness will require innovation and creativity.

Professor Lauren Cohen, author of the Harvard Business School case study about life settlements, concludes there is every reason why the life settlement industry will thrive and grow, and at the same time there is every reason why the industry will need to make significant changes. The Conning Report confirms the view of Professor Cohen.  If there is a major theme in the report, it is that the future is now.  LISA is very pleased that Professor Cohen will also be at the Investor Conference and will present his case study on life settlements.

Sign up now for LISA’s 4th Annual Institutional Investor Conference on February 24, 2014, in New York City, where attendees will learn more about these opportunities and challenges for the life settlement market.  As of today, space is very limited, so register IMMEDIATELY!  .

Darwin M. Bayston, CFA
President and CEO
Life Insurance Settlement Association

Tertiary Portfolios Play an Important Role in the Life Settlement Market

The issues regarding significant new institutional capital entering the life settlement market in contrast to the sufficiency of original policy submissions is a topic of great interest.  For new investors, understanding the issues and nuances of valuing newly originated policies compared with tertiary policies and portfolios is important to understand.

19th-Annual-Fall-Conference-LogoOn the surface, it would appear since tertiary policies have been “previously owned,” the valuation process would be less complex with more information known, as they have been previously vetted, valued and “time observed”.  Aside from portfolios considered of adverse quality, there are a number of factors that impact the valuation and pricing of tertiary policies/portfolios.  Some factors relate to individual policies and some relate to the portfolio itself.

The difficulty, and sometimes inability, to re-underwrite insured lives and the impact on tertiary policy values is common discussion and debate.  Factors, given lesser discussion and debate, include the constraints related to servicing agreements, any limits or conditions on the bidding and sale process of the portfolio, and limits on confidential information related to insured lives.  For the seller, these and other limiting factors may seem trivial.  For the buyer, any constraints on the total disclosure of information or any conditions that limit a “no strings attached” transfer or ownership will impact the valuation of tertiary policies or portfolios.

The topic of tertiary policy and portfolio valuations will be discussed at LISA’s 19th Fall Conference in Orlando, October 9-11.  We encourage institutional investors to join us in the discussion and debate of this topic.

U.S. Commission on Long-Term Care Recognizes Life Settlements as a Private Sector Solution to Aid in Long-Term Care Crisis

The federal Commission on Long-Term Care, established by Congress to examine the long-term care crisis and propose potential solutions, released its final report this week.  The Report focuses considerable attention on financing long-term care services and includes a number of policy ideas, one impacting life settlements.

The report notes the role that life settlements could play in the private financing of long-term care.  One of the ideas presented recommends further examination and perhaps expansion of “the conversion of life insurance policies to long-term care benefit plans.”  The Life Insurance Settlement Association (LISA) supports this recommendation and notes that the general nature of this statement suggests implications for life settlements extending far beyond the current Medicaid legislation recently passed by Texas and being considered by many other States.

Life Settlements: The Next Ten Years of Unlimited Opportunity

U.S. Commission on Long-Term Care Recognizes Life Settlements as a Private Sector Solution to Aid in Long-Term Care Crisis

We have long been aware of the demographics of millions of seniors owning  hundreds of billions of dollars of life insurance, many who no longer need, can afford or want the policies.  The recent survey by ICR for The Lifeline Program found that (1) “55 percent of seniors have allowed their life insurance policies to lapse, viewing it as a liability instead of an asset (emphasis mine)”, (2) 80% of seniors over age 66 were not aware they could sell their policy, and (3) 40% are concerned about the ability to meet their long-term care needs.

These developments provide a significant and compelling mandate for the life settlement industry to coalesce around a massive effort to expand the awareness, information and knowledge of the benefits a life settlement option may provide for the millions of seniors who are in need of financial assistance for their long-term health care needs.

America’s seniors deserve to know about the options available regarding their life insurance policies and seniors’ financial advisors and counselors, the life insurance industry, and more importantly, the life settlement industry all have a responsibility and opportunity to help them.

The Life Insurance Settlement Association (LISA) is undertaking a massive program to create awareness for seniors, advisors, counselors and the financial industry about the importance and benefits of a life settlement.  Join us in that effort.  Attend our 19th Annual Fall Conference on October 9-11 in Orlando. Join the Association as a Member firm and get involved. Contact our office for more information.  (407) 894-3797.

The Life Insurance Settlement Association (LISA) Fall Conference – Why Should I (meaning you) Care?

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The Life Insurance Settlement Association (LISA) is hosting its 19th Annual Fall Life Settlement and Compliance Conference in Orlando, FL from October 9-11, 2013.  It promises to be innovative, inspiring and important to the growth of the life settlement industry.

One question often asked from LISA members, industry participants and prospective attendees, “Why should I care about the conference?  It appears there is little on the program that affects me or that I am interested in.”  The answer is, “The entire industry has a stake in the millions of seniors and their advisors, counselors and caregivers having an awareness and understanding about a life settlement, as well as the other options available to them regarding life insurance policies they no longer need, want or can afford.”

Over the past 19 years, LISA, as represented in its conferences, has evolved into the most influential and important Association representing the life settlement industry.  It is human nature to focus on the immediate past and ask, “So, what have you done for me lately?”  The question should be, “What are you doing now and what are you doing to grow the industry?”  Then you can make the connection regarding the real question, “What are you doing that will cause my business to grow?”

In brief, we need to remind ourselves about what LISA has done over the past 19 years to influence the present.  It has been the dedicated efforts, financial support and motivation of LISA members, Board members, and staff who led a charge of focused activities, legislative influence, conference activities and policy positions (ethical behavior, STOLI, disclosure, transparency) that has created a consumer friendly secondary market where seniors may sell their unwanted, unneeded and unaffordable life insurance policies.  In sum, it has created an environment that allows your business to thrive and grow.

In simple terms, the potential of the life settlement market is comprised of: (1) millions of seniors who hold $1+ trillion face value of life insurance policies, (2) institutional investors who have $billions to invest in life settlements that offer attractive risk and return attributes, and (3) the many intermediary firms and individuals who provide an array of services in the transactional aspect of life settlements.  It is the mission of LISA’s conferences to present an agenda and speakers in an environment that fosters discussion, analysis and debate that impacts these three simple terms.  We acknowledge the past and the present, and focus on the issues that are important to future growth.  It is that simple.

We need your participation, we need your involvement and we need your support.  LISA will always strive to lead the way in educating and informing the senior community and its support network about the value of a life settlement option.  That in turn will lead to a consumer friendly and credible market where LISA members can grow their business in a credible and highly respected environment.

Come join us on Oct 9-11, 2013.  The industry needs your input, and LISA needs your participation.

Save now, register before our price increase this Wednesday, September 18, 2013.

 

 

The Life Insurance Settlement Center For Education Announces a Complimentary Certified Financial Planners Continuing Education Credits Class in Orlando, FL

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The Life Insurance Settlement Center for Education will be offering a complimentary CFP Continuing Education class on October 11 at The Peabody in Orlando, FL. Attendees are eligible for up to two hours of continuing education credits which have been accepted by the CFP board.

The Life Insurance Settlement Center for Education today announced that it will be offering  a complimentary CFP® Continuing Education class on October 11 at The Peabody in Orlando, FL.  Attendees will be eligible for up to two hours of continuing education credits.

This initiative from the Life Insurance Settlement Association (“LISA”), is designed to educate insurance and financial professionals about life settlements.  A study conducted by the Insurance Studies Institute revealed that 49% of financial advisors lack knowledge about life settlements and therefore they do not recommend life settlements to their clients. The study also found that 90% of seniors who lapsed a life insurance policy would have considered a life settlement had they been aware of the possibility.

The number of people in the United States aged 65 and older is projected to double by the year 2030, to nearly 71 million people (roughly 20% of the U.S. population).  This equates to over 10,000 seniors a day  with retirement, long-term care and other financial needs.  Many will seek advice from a trusted financial advisor.

A life insurance policy plays a vital role in seniors’ estate planning and retirement needs. After years of premium payments, many seniors often experience unexpected changes that alter their priorities regarding life insurance. When changing priorities or dissatisfaction with a life insurance policy occurs, advisors should themselves understand all options, including a life settlement, and be able to assist their clients with making the right decision about what to do with their unaffordable or unwanted life insurance policy.

Recently, Texas Governor Rick Perry signed a groundbreaking law that requires Medicaid applicants to be informed about the option to sell their life insurance policies through a life settlement – instead of lapsing or surrendering the policy– and applying the proceeds to fund direct long-term care services while preserving their Medicaid eligibility.  This new law will permit some seniors from ever having to go onto Medicaid, and in other cases will delay that occurrence for months and even years.  At least 11 other states are actively considering similar legislation.

The Life Insurance Settlement Center for Education’s goal is to make it easy for advisors to learn more about Life Settlements so that they can, in turn, educate their clients about all of the options available to them when faced with terminating a life policy.    The upcoming CFP class will begin the Center’s efforts to achieve this goal.

Please register for this complimentary in person class, exclusive to Certified Financial Planners, to be held on October 11 at The Peabody in Orlando, Florida.

 

The Agenda is as follow:

October 11 – The Peabody, Orlando

11:00 – 12:00 Noon – Life Insurance Settlement 101
(1 credit hour has been accepted by CFP Board)
Instructed by Peter N. Katz, J.D., CLU, ChFC, Life Insurance Settlements Inc.

12:00 Noon – 1:00 PM  - Complimentary Lunch

1:00 PM – 2:00 PM – Long-Term Care and Life Settlements Together – Inside the Numbers by
(1 credit hour pending review by the CFP Board)
Instructed by Michael Freedman, Senior Vice President, Government Affairs, Coventry
and Philip Johnston, President and CEO, Johnston Associates, LLC

Certified Financial Planners interested in registering for this complimentary continuing education course can register by clicking here or by contacting the Life Insurance Settlement Association at (407) 894.3797.

Certified Financial Planners interested in attending the entire 19th Annual Fall and Compliance Life Settlement Conference also hosted the Life Insurance Settlement Association at the Peabody on Oct 9-11 may be eligible to attend for as low as $500. Contact us for details.

The Life Insurance Settlement Center for Education is a Certified Financial Planner Board of Standards, Inc (“CFP board”) Registered Continuing Education Sponsor. Two Credit hours have been accepted by the CFP board.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNERTM and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s  initial and ongoing certification requirements.

Established in 1994, the Life Insurance Settlement Association is the oldest and largest trade organization in the life settlement market. Its goal is to advance the highest standards of conduct for market participants and to promote education and awareness to consumers, investors, and public officials. LISA represents more than 80 member firms including 2,500 professionals from life settlement brokers, life settlement providers, institutional investors, life settlement servicers, and other service providers

CE SPONSOR: Life Insurance Settlement Center for Education CE SPONSOR ID NUMBER: 1982

 

“Everything You Knew About Marketing to Baby Boomers and Seniors May Be Wrong”

So says Jim Gilmartin, founder of Coming of Age  and one of America’s leading experts on marketing to this group.  That is a profound statement since Baby Boomers and seniors are the core constituency of the life settlement industry.  Just as profound is the fact that most seniors, their caregivers and advisors are not aware of the financial value or the options available regarding their life insurance policies – including the right to sell their Marketing Strategypolicy as a life settlement.

Jim is a featured speaker at LISA’s upcoming 19th Fall Conference to be held October 9-11 in Orlando.
He will provide his 20+ years of expertise and insights to a tactical approach to market to seniors.  Click here to watch one of his presentations.  Also a featured speaker will be Wm. Scott Page, a LISA member whose firm, The Lifeline Program has concentrated considerable resources to awareness and marketing to seniors and Baby Boomers.  Scott regularly appears on Stuart Varney’s FOX Business Network television show, “Varney & Company” as well as other national television programs. Click here to watch one of his videos.

A key mission of the LISA is to educate and provide awareness to seniors, their caregivers and advisors about the value their life insurance policy offers – including the option of selling the policy as a life settlement.  Awareness, education and marketing to seniors and baby boomers will be a featured part of our 19th Fall Life Settlement Conference.  Growing policy submissions for the industry is a central focus of the Association.  We hope many of you will join us in Orlando October 9-11.

Life Settlement Market – Lack of Policies, Lack of Capital or “Something Else”?

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19th Annual Fall Life Settlement and Compliance Conference

The life settlement market, following a contraction that was fueled by the global economic crisis and some market-specific issues (such as life expectancy evaluations) is poised for a rebound.  A growing number of life settlement providers are again competing with one another for policies and the market as a whole is expanding its appetite for small-face policies.  In addition, a number of institutional investors are either poking around in, or have put a small toe in the waters of the life settlement market.

But this comeback has been slow.  Perhaps slower than some have hoped for or expected.

Is the reason for the slow resurgence of the life settlement market a lack of policies or a lack of capital?  Or is it something else?  Let’s go with the “something else.”

The potential size of the life settlement market, in terms of face amount of life policies purchased by investors, is large.  At least three independent analyses have concluded that the market for life insurance policies available to become the subject of a life settlement ranges from $100-$160 billion in face amount of life insurance.

  1. Bernstein Research (2006)  – $160 billion
  2. Conning Research (2012) – $136 billion Ave Net 2012-2021
  3. Bergstrom-Hart (2012) – $102 billion

My own analysis, based on 2011 data available on life insurance owned by seniors age 65 or older, supports these figures.  I have concluded that the potential market for life settlements is approximately $144 billion in available death benefits, with more than $66 billion, or almost 46 percent, owned by seniors age 75 or older.

So, the issue is not a lack of policies available for a life settlement.  Millions of seniors who are in need of retirement income, or are facing unanticipated long-term care costs, hold tens of billions of dollars of life insurance policies that could be converted through a life settlement into cash to meet those important needs.

Two years ago, the consensus was that the life settlement market suffered from a lack of capital.  The aftermath of the 2008 financial meltdown, negative press, life expectancy extensions and lawsuits among investors and insurers had given pause to new capital entering the market.

Conning Research has written reports about the life settlement market since 1999, annually since 2006.  In their 2012 Report, Conning did express that the fundamental appeal of life settlements remains for both consumers and investors, but that the challenge for the industry remains attracting capital to buy new policies.  They further suggested that the life settlement market may remain a smaller niche marketplace than originally thought.

Very recently, I have spoken to two well-known institutional investors that have been considering committing a total of more than $1 billion of investment funds to the life settlement space.  Independently, these investors have expressed hesitation about such investments based primarily on the inability of the life settlement providers they have met with to confidently express their plans and capabilities to accumulate a significant portfolio of quality policies in a reasonable period of time.

Professor Lauren Cohen, Harvard Business School, has authored a Case Study about the life settlement market that will be available in the near future.  The case will be taught to the students in Professor Cohen’s MBA Investment Strategies class in October, as well as next year at the renowned CFA Investment Management Workshop.  The case study will bring significant positive attention and credibility among institutional investors.

The combination of the potential of a large market of policies and institutional investor acceptance of life settlements as a credible competitive investment alternative suggests the issue is neither a lack of policies nor a lack of capital.

Then what is this “something else”?  Awareness and education!

The life settlement market and its member organization, the Life Insurance Settlement Association, have simply not mastered the art of marketing, informing, educating, and selling the rights and benefits a life settlement option offers to the public – to the millions of senior life insurance policyholders and their adult children, as well as financial advisors and counselors (financial planners, CPAs, elder care attorneys and insurance agents), and the media.  It is that simple.

A small number of LISA member firms, for example the Lifeline Program, have devoted significant time and resources to provide greater awareness and understanding of the benefits of a life settlement option to the senior population, their advisors, and the press.  Coventry, for years, operated the Coventry Center for Education, providing education (and CE credits) to thousands of insurance producers and financial advisors, before gifting the Center to LISA where we have been updating and expanding the course offerings.

Individually, these companies and others are achieving recognition and success.  However, expanding the market significantly begs the participation and commitment of the Life Insurance Settlement Association and the industry at large.  We need to be innovative, present and persistent.

In 2010, the Insurance Studies Institute (ISI) conducted an analysis of consumer decision-making behavior affecting the purchase and ownership of life insurance.  Seniors over age 65 were surveyed as well as personal interviews conducted.  Among the results:

  • 40% have lapsed or terminated a policy
  • 60% expressed concern their savings and net worth would not sustain them during retirement
  • 50% are not aware they may sell their policy, those who do are skeptical due to insurance industry negative messaging and negative press
  • 90% who lapsed a policy would have considered a life settlement had they been aware of the possibility

Another astonishing finding:  49% of financial advisors lack knowledge about a life settlement, therefore do not recommend the option.

Clearly, the issue is one of awareness and education, or lack thereof.  The life settlement market is capable of creating its own resurgence and significantly growing itself.

The speed and height of the recovery and growth will depend on a commitment by the market leaders, the Life Insurance Settlement Association and individuals to a well-defined and dedicated awareness and education program of marketing and selling to seniors!

Here is one thing that LISA is doing for its members at the upcoming Annual Meeting.  Mr. Jim Gilmartin, founder of Coming of Age and noted expert with 20+ years of experience marketing to seniors and baby boomers will be a featured speaker at LISA’s 19th Fall Conference October 10 in Orlando. Jim will discuss approaches and tactics that work and provide recommendations we can do NOW.  In addition, Scott Page, founder of the Lifeline Program will share his firm’s experience in awareness and marketing to seniors.  Scott appears regularly on the Fox Business News program, Varney and Company.

Join us at the 19th Fall Conference in Orlando, October 9-11 at the Peabody Orlando.  Call us (407) 894-3797 to register, or visit the conference website.

Momentum Grows for LISA’s 19th Annual Fall Life Settlement & Compliance Conference

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19th Annual Fall Life Settlement Conference

The 19th Annual Fall Conference sponsored by the Life Insurance Settlement Association (LISA) is clearly the most important and valuable conference in the industry.  The Conference will be held at The Peabody Orlando in Florida, on October 9-11, 2013.

The industry’s flagship conference includes an agenda of exceptional speakers discussing the most important and relevant topics and issues facing the industry.  “The conference theme, ’Life Settlement Market: The Future is Now,’  is based on the momentum of renewed interest from the capital side and the need for a significant effort to expand consumer awareness of the life settlement option by seniors and their financial advisors,” said Darwin Bayston, President and CEO, Life Insurance Settlement Association.

Scheduled key speakers for the conference include:

- Jim Gilmartin, Baby Boomer & Senior Marketing & Sales Expert, Coming of Age

A highly sought-after expert on marketing to seniors and baby boomers,  Mr. Gilmartin has contributed his insights to leading corporations and related groups as well as to consumer and trade publications, including The New York Times, Business Week, Smart Money, Financial Planning, and Research Magazine.

- Scott Kipper, Insurance Commissioner, Nevada

Scott Kipper was reappointed Nevada Commissioner of Insurance on October 24, 2011.  He previously served as Nevada’s Insurance Commissioner from December 2008 to June 2010.  After leaving Nevada in 2010, he served as the Deputy Commissioner in charge of the Office of Health Insurance for the Louisiana Department of Insurance and as CEO of the State of Louisiana Office of Group Benefits.

- Wm. Scott Page, President and CEO, The Lifeline Program

Mr. Page frequently serves as an expert contributor on Stuart Varney’s FOX Business Network television show, “Varney & Company.” He has also appeared on other national television programs such as 20/20, the NBC Nightly News and the Phil Donahue Show. In addition, he has been featured in national publications such as U.S. News & World Report, The Wall Street Journal, The New York Times, The Economist and Newsweek magazine.

- Leah J. Walters, Regional Vice President, State Relations, The American Council of Life Insurers (ACLI)

Leah Walters, a recognized leader on legislative and regulatory issues facing the life insurance industry, is Regional Vice President at the American Council of Life Insurers. The American Council of Life Insurers (ACLI) is a Washington, D.C.-based trade association with more than 300 member companies operating in the United States and abroad.  Leah works closely with member insurers, regulators and legislators, in the mid-Atlantic region.

- Kate Kiernan, Vice President, Chief Counsel & Deputy, State Relations, The American Council of Life Insurers (ACLI)

Ms. Kiernan, has been with the American Council of Life Insurers (ACLI) since 2009.  Ms. Kiernan currently serves as Deputy of the ACLI State Relations department.  She also has responsibility for managing the legislative and regulatory relationships in Connecticut and New York as well as serving as ACLI’s liaison to the National Conference of Insurance Legislators (NCOIL).

LISA’s 19th Annual Fall Event will also include a Harvard Business School (HBS) Case Study discussion focused on the life settlement market. The case was written based on extensive research, including discussions with industry participants and will be used by Professor Lauren Cohen in his advanced MBA Investment Strategies Course at HBS as well as his Executive Management workshops.

Other sessions will offer conference attendees the opportunity to ask questions of industry leaders about the state of the market, opportunities for growth, and challenges of the life settlement market.

In addition, there will be an update on legislation and regulation affecting the life settlement market, and attendees will hear about broader topics that are affecting life insurance and life settlements.

LISA is pleased to offer its members a $400 gift card whenever a qualified long-term care professional guest registers. Contact us for more details.

To register and learn more about the conference, click here.

For the latest news and insights on life settlements, follow us on Twitter @LISAgroup.

 

 

Life Settlement Industry’s Only Compliance-Based Conference To Be Held in October in Orlando

Email-HeaderThe Life Insurance Settlement Association (LISA) will hold its 7th Annual Life Settlement Compliance Conference at The Peabody in Orlando, FL on October 9, 2013. As the only conference in the life settlement industry and secondary market focused solely on compliance and legal issues, participants in this market cannot afford to miss out. This year’s conference is designed to review compliance issues faced by anyone who touches the life settlement transaction, including regulators, life settlement market practitioners, financial and other professional advisors, and attorneys and compliance professionals. With a timely focus on litigation, legislation and regulations affecting the industry, additional topics will touch upon varying compliance issues affecting all segments of regulated entities in the life settlement industry, including life settlement providers, brokers, industry service providers and investors. Conference attendees will learn from leading industry experts on how to meet the core challenges of compliance with state laws and regulations, while upholding the highest standards of business conduct and ethics in the life settlement industry.

This year, LISA is proud to host Nevada Insurance Commissioner Scott Kipper.  As the chair of the Senior Issues (B) Task Force of the NAIC, Commissioner Kipper will be primed to discuss America’s long-term care crisis and how the NAIC is addressing the issue and seeking solutions for the ever-growing senior population, including a discussion on the evolving Medicaid life settlement option. Additional Commissioners from around the country have been invited.

Other topics will include an update on several major legal developments involving the secondary market, including recent rulings and national trends; a discussion concerning disruptive behavior by insurance carriers in the life settlement transaction and guidance on how companies should respond to the carrier or insurance regulator; a presentation that will examine the latest offshore tax strategies employed to reduce U.S. taxation on the receipt of death benefits from U.S. based life settlement policies; and, a panel of compliance experts who will discuss hot topics in the industry, as well as receive questions from attendees on timely, significant compliance issues.

LISA is offering extremely discounted rates from year’s past for members and non-members alike.  Moreover, the registration can be bundled with LISA’s 19th Annual Fall Life Settlement Conference for maximum value.  The Fee Schedule can be found HERE.  These flagship conferences of the life settlement industry are not something you or your team can afford to miss.  Up to five (5) CLE credits may be available for attendees in a number of states.

For more inform

ation on LISA’s Life Settlement Compliance Conference and the 19th Annual Fall Conference, please visit http://events.lisainstitute.org/.

About LISA

Established in 1994, the Life Insurance Settlement Association is the oldest and largest trade organization in the industry. Over the association’s 18 years, it has provided key guidance in developing legislation and regulations that have served to cultivate and encourage an open, transparent, and free environment for the transaction of life settlements.  It is LISA’s goal to promote the development, integrity, and reputation of the life settlement industry, and to promote a competitive market for the people it serves. LISA represents more than 85 member firms including professionals from life settlement brokers, life settlement providers, institutional investors, life settlement servicers, and other service providers.