The National Association of Insurance Commissioners is revising its model act on life settlements. If approved, the revisions must still be adopted by legislatures in each state for it to become law. The NAIC is trying to prevent the purchase of insurance by investors with the intention of later being sold as a life settlement. Another provision would require fees for life settlements to be disclosed so seniors know how much of their settlement is going to brokers. Purchase this webinar archive to learn how these new revisions could affect the way you do business.

Life settlement companies, life insurance producers, and financing sources all want to know more about this complex and highly regulated industry. This session covers the various provisions of the NAIC Model Act and the proposed revisions from a legal perspective and how, if approved, they may affect the way you do business.

The discussions before the NAIC Committee turned from the issue of insurable interest and the manufacture of Stranger Initiated Life Insurance to a discussion of premium finance. Some believe that this debate missed the mark as a critical component concerning life and viatical settlements. This webinar segment focuses on the political landscape regarding the central issue of the improper use of trusts to circumvent the law.

Adopting the NAIC Model Act in its current form could impact providers, brokers, investors, producers and most importantly consumers. This section defines, from a provider's perspective, the concerns about the proposed revisions, the efforts being taken to address these concerns and the possible impact the revisions could have.

Click here to purchase archive access, or call (516) 876-8006.