SOURCE: Life Insurance Settlement Association

Life Insurance Settlement Association

September 17, 2013 11:25 ET

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

ORLANDO, FL--(Marketwired - Sep 17, 2013) - The Life Insurance Settlement Center for Education, a CFP Board-Registered CE Sponsor and the nation's only life settlement education center hosted by the Life Insurance Settlement Association ("LISA"), today announced that it will be offering its inaugural complimentary CFP Continuing Education class to be held on October 11 at The Peabody in Orlando, FL. Attendees may be eligible for up to two hours of continuing education credits pending final review by the CFP board.

This education initiative from the industry association is primarily driven by a study conducted by the Insurance Studies Institute that revealed that 49% of financial advisors lack knowledge about a life settlement and therefore do not recommend the option. Furthermore, the study revealed that that 90% of seniors who lapsed a policy would have considered a life settlement had they been aware of the possibility. 

The U.S. Senior population is aging and growing, with the number of people in the United States aged 65 and older expected 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 that may be seeking expert advice from their trusted financial advisor.

Having an in-depth understanding of how a life insurance policy plays a vital role in meeting seniors' retirement needs is imperative to all advisors. 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 be highly educated and understand all options, including a life settlement. This way, advisors are well-prepared to provide an exit strategy that truly addresses the financial objectives of the senior policyholder.

Life settlements represent an important option for a growing number of seniors who, otherwise, thought they had no options with regard to their life insurance. The industry is a highly regulated marketplace, encompassing more than 90 percent of the United States population with 42 out of the 50 states being regulated. The National Conference of Insurance Legislators (NCOIL) has adopted a model disclosure law that requires insurers to notify senior insureds who are about to lapse or surrender a policy that alternatives, like life settlements, exist. The states of Kentucky, Maine, Oregon, Washington and Wisconsin have already adopted similar laws, and others are likely to follow.

Recently, Texas Governor Rick Perry signed a groundbreaking law that will require 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 apply the proceeds to fund direct long-term care services while preserving their Medicaid eligibility. A number of other states are also likely to follow.

The Life Insurance Settlement Center for Education wants to make it easy for advisors to learn more about Life Settlements and learn from the source widely known as "The Voice of the Industry"; in other words, directly from the industry association.

Please join us for a 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. One Credit hour has been accepted by the CFP board, an additional credit hour been submitted to the CFP Board and is pending review.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ 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.

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