The following article, written by Larry Simon, ran in the June 2010 issue of Cal Broker magazine.
Preview of 2010 Life Settlement Awareness Month (LSAM) ®
By Larry Simon, president and CEO of Life Settlement Solutions, Inc. (LSS)
Even in the wake of the world’s biggest financial crisis since the Great Depression, interest in the life settlement market remains strong from both financial professionals and their clients, and investors. The benefits of using life insurance as an asset over the past 18 months have become even more appealing to consumers as many have seen their retirement funding diminish. Likewise, investors have been attracted to the life settlement market as it is one of the few non-correlated assets with receivables from highly rated insurance carriers.
As continued growth attracts more financial professionals to the secondary market, the need for quality information sources will also increase, aiding the push for better education regarding life settlements.
To help meet this growing demand and to provide financial professionals with the tools to succeed, Life Settlement Solutions will hold the fifth annual Life Settlement Awareness Month® in June 2010 – dedicated to providing comprehensive educational sources and updated information on the secondary market.
Education and Life Settlements
As more agents, brokers, CPA networks, financial planners and even investors have entered this expanding marketplace, the availability of educational sources is more important than ever for those working with life settlements. Numerous financial professionals have already reaped the benefits of working with life settlements, but a lack of knowledge and access to education has kept some from actually entering the marketplace.
In fact, according to Agent Media Corp. and the Life Insurance Settlement Association’s (LISA) annual survey of the life-settlement industry, many financial professionals are interested in life settlements, but have not yet begun working with them. Additionally, participants said education would be a significant help when working with life settlements. For those interested in life settlements, access to quality education not only has the ability to boost revenue, but also offers the opportunity to better understand the life-settlement process.
Life Settlement Awareness Month®
Life Settlements Awareness Month® was created by LSS as a way to better connect with financial professionals working with life settlements, as well as those who are interested in the secondary market. This year, LSS will host a number of free webinars geared to agents and financial professionals. And because of such great feedback from the capital markets track in 2009, this year more purchaser-focused events have been added
The overall schedule is as follows:
- June 1 – Fundamentals of Life Settlements
- June 3 – Advanced Strategies and Case Studies
- June 8 – Qualified Purchasers Only Part 1 - Current Opportunities and State of the Market
- June 16 – Broker Panel: Understanding Providers and Brokers
- June 22 – The Life Settlement Marketplace - Regulatory Climate; Market Trends
- June 24 – Qualified Purchasers Only Part 2 - Portfolios, Securitization, Settlement Allocation Impact on Overall Portfolios
“Fundamentals of Life Settlements” will focus on the basics of life settlements and will be geared toward those new to the transaction or who are just looking to learn more. Topics covered will include an overview of the market, life settlements versus viatical settlements, case studies and benefits for professionals and senior clients.
“Life Settlements Advanced Strategies and Case Studies” is designed to provide a deeper look into life settlements and marketplace trends. The course will focus on regulatory issues, market trends, and detailed case studies, including charitable giving, term conversions, premium financing and restructured life insurance.
The broker panel will help decipher the differences between life settlement brokers and providers and more clearly explain the roles in the industry of each.
“The Life Settlement Marketplace” event will provide a clear depiction of what the market has undergone over the past 24 months, the current status of the industry, how it will change moving forward and the opportunities for both financial professionals and purchasers.
The qualified purchaser events are open to qualified and accredited investors only.
To learn more about Life Settlement Awareness Month® and sign up for events, visit www.lifesettlementawarenessmonth.com. In addition, those looking for more information on the life-settlement market can visit several industry-related Web sites, including LISA (http://thevoiceoftheindustry.com/), National Conference of Insurance Legislators (NCOIL) and National Association of Insurance Commissioners (NAIC) sites, and participate in Life Settlement Solutions’ state-certified continuing education courses (www.lss.webce.com).
