This post updates our previous analysis which estimated a COVID-19 net mortality risk factor for the life settlements population between 6x and 12x. Since then, we have seen a decrease in life settlements excess mortality resulting in a net risk estimate at the floor of our original range, around 6x. This is consistent with a delayed protective wealth effect where the delay is explained [...]
Paying Caregivers and Employees from a Trust: Staying Out of Hot Water Presenters: Rachel Green and Cheryl Severson, TEAM Risk Management Strategies LLC If you encounter clients who have caregivers, nannies, housekeepers, or other in-home workers, this presentation will be relevant to you. We will discuss considerations to the trust and the fiduciary of being an employing entity, common missteps and potential liabilities clients [...]
Over the years, we at ITM TwentyFirst have been leaders in peer education. The TOLI Handbook, a free download available here as a PDF, provides industry peers with a single source guide for managing trust-owned life insurance (TOLI) trusts and policies. We have, over the years, provided hundreds of hours of professional CE for several professional designations. Our staff is encouraged and incentivized to seek [...]
Updated 6/29/2020, originally posted 4/19 Previously, we started the TOLI Challenge with the question: What is most important when determining the liability of a trustee’s actions? Click here for that answer. Today, we have a follow up true or false question. Only permanent life insurance policies can be sold in the life settlement market, True or False? It may surprise you that the answer [...]
Directed Trusts are a growing reality as more states adopt the Uniform Directed Trust Act. Delegated trusts are as old as the UPIA, but are you really prepared to confidentially articulate the difference between the two models? Most trust organizations are being asked to consider one or both of these options by someone in their market or the bank. This webinar will compare and [...]
Updated 5/29/2020 Originally posted 3/19/19
Life settlements are confusing, at best. That confusion can make you uncomfortable. So much so that you allow a client to surrender or lapse a policy without exploring the option. That would be a mistake – one that could cost the client money and put you in hot water. It’s hard to move ahead if you do not know how. We understand that, just [...]
Minimizing Trustee Liability in a Changing Market Judith Pearson, Nomadx Solutions Risk management is always more challenging in a volatile environment, especially in a society that has grown more litigious. Learn how to minimize your liability by taking a few simple steps. The trust world has become rich with opportunity. Learn how to navigate this complex market while dodging landmines of personal liability. Understand [...]
In this post we estimate an “equal-risk” projection of COVID-19 mortality within life settlements using the geographic overlap of COVID-19 deaths with life settlement insureds. By comparing this equal-risk rate to observed data, we estimate a net mortality risk factor of 6-12x for the life settlements population. This is on par with a simple age-weighted projection of mortality and suggests socio-economic advantages may have [...]
Updated 5/14/2020, Originally posted 3/12/2019 When we first ventured into the trust-owned life insurance (TOLI) servicing business, our lead product was a policy tracking and trust administration system - what is known today as InsuranceIQ, and it was light years ahead of anything TOLI trustees had at their disposal. At the time, most trustees simply got an in-force ledger every couple of years, along with [...]
