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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

ITM TwentyFirst

  • Managing director of ITM TwentyFirst, the leading life insurance policy management firm in the country
  • One of the founders of Insurance Trust Monitor, Inc. (ITM), a firm that pioneered the outsourcing of Trust Owned Life Insurance (TOLI)
  • Editor of the ITM Twenty First Blog addressing the issues and concerns of the TOLI industry
  • Quoted in the Wall Street Journal, as well as other leading publications, he is a frequent industry speaker and the creator of ITM TwentyFirst University, an online provider of education for the personal trust and legal community
  • Can be contacted at [email protected], https://www.itm21st.com/ or http://blog.itm21st.com/
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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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