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Managing Life Insurance in a Trust Setting

In volatile markets, look under the hood of life insurance with an industry expert as your guide.

Managing life insurance has been harder this last year than any year in recent memory, with volatile equity markets and historic low interest rates that have damaged policy performance and unprecedented cost of insurance (COI) increases causing premiums on policies to more than double overnight. In this volatile environment most trustees are in need of insight to adequately manage life insurance, which needs specialized knowledge in a number of skill sets, including not only policy management, but TOLI administration. This topic will provide you with a background in life insurance policy management and outline the prudent processes to manage the policy and trust to maximize the benefit to the beneficiary, while mitigating liability for the trustee in this increasingly litigious society. Vital for trustees - this session is also relevant for other professionals (attorney's, CPAs and life insurance agents) who might advise on trust owned life insurance (TOLI) policies.

Runtime: 87 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Evolution of Life Insurance Policies

  • How Policies Work
  • Actual Policy Performance vs. Expectations
  • Understanding the Unprecedented Cost of Insurance (COI) Increases Occurring Right Now

Policy Suitability - How to Select the Correct Policy for Your Client

  • Premium Flexibility
  • Investment Risk
  • Cash Value Growth
  • Is There a "Best" Policy?

How to Develop the Best Procedures Needed to Manage a Life Policy (in a Trust Setting)

  • Policy Monitoring
  • Trust Administration
  • Documents and Documentation
  • Systems and Procedures Needed

Policy Remediation

  • Dealing With the Problem Policy
  • How to Deal With the Problem Grantor

Mitigating Trustee Liability

  • Regulation and Case Law Provides Direction

Real Life Case Studies- an Analysis of Real Life Problems and Their Solutions

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Michael Brohawn, CFP®, CLU®

Your Life Insurance Solution

  • At www.lifeinsurancesolution.com
  • One of the founders of Insurance Trust Monitor, Inc. (ITM), a firm that pioneered the outsourcing of trust owned life insurance (TOLI) trust and policy management. Merged in 2015 with two other related firms creating ITM TwentyFirst, the largest life insurance policy management firm in the country with more than two hundred clients, including some of the country’s leading trust, banking, and financial firms
  • Developed the remediation services that set ITM TwentyFirst apart by providing a prudent process for trustees managing and maximizing life insurance for beneficiaries. Created the ITM TwentyFirst University and wrote the TOLI Handbook (www.TOLIHandbook.com)
  • A leading educator to peers in the life insurance field, especially trust owned life insurance (TOLI). He has been an instructor at the annual Cannon Financial Institute’s Unique and Hard to Value Assets program held on the University of Notre Dame Campus in South Bend, Indiana, and has spoken to industry associations as diverse as Top of The Table, Texas Bankers Association, Fiduciary and Risk Management Association (FIRMA), and American Bankers Association (ABA)
  • Quoted in the Wall Street Journal and Financial Times publications, as well as other industry publications
  • Received the Certified Financial Planner (CFP®) and Chartered Life Underwriter (CLU®) designations and is currently enrolled in the Chartered Advisor in Philanthropy (CAP®) at The American College of Financial Services
  • Can be contacted at [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 397675
Published 2016
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