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Upcoming Webinar October 6th: Life Insurance Trusts – An Insider’s Guide to Minimizing Liability and Maximizing Client Value

Put on by the Trusts & Estates CLE Webinar Series - Sponsored by Life Insurance Trust Company Leon Wessels - Life Insurance Trust Company, John Barkhurst - ITM TwentyFirst, Judith Pearson - Nomadx Solutions, Michael Brohawn - Your Life Insurance Solutions, Susan Lipp - Trusts & Estates Irrevocable Life Insurance Trusts (ILITs) have long been a cornerstone of many estate plans—and remain [...]

2020-09-18T14:19:20-05:00September 18th, 2020|Uncategorized|0 Comments
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Upcoming Webinar April 29th: 12 Things to Do While Managing ILITs During a Pandemic

For most corporate and professional trustees, the life insurance trust and policy administration landscape has changed drastically in recent months.  As a trustee, are you confident that your life insurance trusts are being managed properly in light of business continuity plans and work from home models?  This webinar will highlight the things you should be focused on right now to manage trust owned life [...]

2020-04-23T13:04:55-05:00April 23rd, 2020|Uncategorized|0 Comments
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Trustee Alert: Don’t Be a Casualty of the Life Insurance Illustration War

Updated 2/5/2020, Originally posted 11/29/18 In the 1980s when current assumption universal life (CAUL) hit the market, sales illustrations were created showing cash value returns of 10% and more every year – for a product that was invested in fixed instruments.  When equity markets soared and variable universal life (VUL) became the rage, many sales illustrations projected 12% returns – again, every year. Life insurance [...]

2020-02-05T11:37:35-06:00February 5th, 2020|General Interest, Life Insurance Investments, Life Insurance Underwriting, Uncategorized|1 Comment
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The TOLI Handbook – Chapter 15: Understanding Life Expectancy Reports

Updated 11/20/19 Originally posted 8/15/19 We recently wrote about remediation and the challenges that TOLI trustees have when managing a policy.  Remediation is not just developing the best options for an under performing policy, increasingly it means maximizing the value of a policy that a grantor believes is no longer needed, or one whose expected funding has stopped. These decisions must be well-thought-out and every [...]

2019-11-20T09:45:19-06:00November 20th, 2019|Life Insurance Investments, News, Policy Management, The TOLI Handbook, Uncategorized|1 Comment
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Allstate Sued by Firm Alleging Non-Payment of Death Benefits

In 2013, we wrote about the sale of Lincoln Benefit Life, an Allstate company, to Resolution Life Holdings, Inc. It was the first purchase in the States for the UK company, run by British entrepreneur, Clive Chowdry, whose ambition, according to the Financial Times, was to “buy up and roll together a number of life assurance businesses and to run them for cash instead of [...]

2018-12-03T11:55:08-06:00December 3rd, 2018|General Interest, Life Settlements, Uncategorized|3 Comments
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Newspaper Headlines Highlight Changes in Life Insurance (and TOLI) Business

On October 30th 2018, Voya Financial, a company we wrote about because of a lawsuit filed against it for cost of insurance increases that occurred on universal life policies sold in the past under the Security Life of Denver banner, announced in its third-quarter earnings call it would be ceasing all life insurance sales as of the end of the year. The company, which was [...]

2019-10-16T16:29:47-05:00November 20th, 2018|Cost of Insurance (COI) Increase, Life Insurance Underwriting, Uncategorized|0 Comments
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Life Insurance Settlement Association (LISA) Challenges Lincoln Enhanced Buyback Offer

Back in the spring, we reported on the Lincoln National “Enhanced Cash Surrender Value” offer the carrier began making to a select group of policyholders.  These unsolicited offers would allow policyholders to receive an amount higher than the current cash surrender value to return their policies to the carrier. As we noted, the offers were similar to some made on mispriced variable annuities after the [...]

2018-11-13T09:46:52-06:00November 13th, 2018|General Interest, Policy Management, Uncategorized|1 Comment
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Saskatchewan Government Squashes Investors Hope For Unlimited Returns Using Life Insurance

On October 29th the government of the Canadian province of Saskatchewan amended regulations dealing with premium deposits into a specially designed universal life policy.  The new rule limits deposits into “side accounts in life insurance policies to an amount equal to premiums required under contract.” (1) The new regulation comes as a court battle rages between Canadian life insurance carriers and investors who purchased the [...]

2018-11-01T12:19:19-05:00November 1st, 2018|Life Insurance Investments, Uncategorized|0 Comments
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Transamerica Settles Cost of Insurance Increase Litigation

In 2015 we reported on a Transamerica cost of insurance (COI) increase on a block of universal life policies and illustrated the 40% increase in COI on one policy affected raised the annual carrying costs to maturity for that policy from $36,400 to $81,595.  That cost increase led to three separate class action lawsuits that were consolidated into one claim in November of 2016. Preliminary [...]

2018-10-08T13:43:29-05:00October 8th, 2018|Cost of Insurance (COI) Increase, Uncategorized|3 Comments
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A Life Insurance Trust Company Transfer Case Study

Recently, we posted a blog that laid out the 5-step process we undertake to move a block of policies to the Life Insurance Trust Company (LITC) as successor trustee.  There are several reasons this may occur.  Some trustees simply grow tired of the risk that ILITs represent, especially if they can remove the risk while still retaining the client in other, more profitable business lines. [...]

2018-09-28T09:24:28-05:00September 28th, 2018|Uncategorized|0 Comments
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