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Turn Lemons Into Lemonade: Finding Cash in Unwanted Life Insurance Policies

TURN LEMONS INTO LEMONADE: FINDING CASH IN UNWANTED LIFE INSURANCE POLICIES

Cost Free
Presentation Length 1.0 hour

Recorded DateJune 26, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaSpecialized Knowledge
Course LevelBasic
Course Description

When was the last time you thought of life insurance as an asset and not a cash drain? And more importantly, have you ever agreed with a client to drop a life insurance policy because it was no longer needed it or no longer affordable?  The answer is likely yes, and maybe even for yourself, family or friends BUT based on our research we can also surmise that you were unaware of the real value of a life insurance policy that could have provided significantly more cash that the cash surrender value or a refund for the unused term premium.  If you are a trustee of an Irrevocable Life Insurance trust, you MUST know this option or risk getting sued. And why not turn lemons into lemonade instead?! Learn how….

Learning Objectives:


  • Understand the history of the life settlement industry and where it stands today

  • Differentiate between the real value of a life insurance policy and the assumed value

  • Take an easy “Policy Quiz” to see if a policy qualifies for a life settlement and what impacts pricing

  • Understand the role of the broker and his/her fiduciary responsibility to your client

  • Learn what an orphaned policy is and why they are valuable to clients but not to brokers

  • Learn which clients are vulnerable and how you may be able to help with cash

  • Follow case studies to better understand possible opportunities to help clients

  • Receive a “checklist” to place in your files to document that you considered this option before dropping any life insurance, especially when you act as advisor or fiduciary

  • Learn the tax law upon settlement including recent changes

  • Lemons not Lemonade: Avoid a lawsuit for making uninformed decisions and instead provide them with cash when they may need it most!

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Beaconwealthconsultingsouth

Susan is a private wealth specialist creating customized solutions for high-net-worth individuals and families. Susan's extensive estate, insurance, and tax planning expertise is the basis for the comprehensive, multi-generational plans that she develops for her clientele and family offices.

Susan’s expertise in the life and long-term care insurance area comes from her work as a Senior Manager at Price Waterhouse and the many years that followed working with the industry’s brightest minds as an independent broker and consultant. Susan is the driving force behind the AICPA’s risk management track at Engage, the annual Advanced Personal Financial Planning conference, and currently chairs the conference subcommittee.

Susan is also actively involved in women's empowerment to help women take charge of their finances, especially before any of the 6Ds occur: Death, Divorce, Disability, Disaster, Dementia, and Debt. Be Prepared Not Scared® is her motto. She runs an annual women’s panel at Engage to help women share experiences, fears, and best practices to increase gender equality in the industry.

Susan carries numerous professional certifications and designations and is recognized among her peers for her leadership, advocacy, and philanthropy, and is a frequent speaker at industry events. Much of Susan's expertise was acquired while she was a senior tax manager at PriceWaterhouse, LLC (1987- 1992), and as a senior tax consultant with Deloitte, Haskins & Sells (1984-1987). She founded her firm in 1992.

Susan graduated magna cum laude from Fairfield University in 1984 with a BS in Accounting and lives with her husband in Naples, Florida. She enjoys photography, painting, and traveling. She is a proud member of the Daughters of the American Revolution. She is most proud of launching her two adult children!

Susan has earned the right to use the Certified Public Accountant (CPA), Personal Financial Specialist (CFS), and Certified Financial Planner (CFP) designation.

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Jamie L. Mendelsohn

Ashar Group
Executive Vice President
jamie@ashargroup.com
(321) 441-1119

Ashargrouplogo

Jamie L. Mendelsohn is a thought leader in the secondary market for life insurance and partners with the nations’ leading wealth management firms, attorneys, CPAs, trust officers, and financial professionals. Jamie is instrumental in the development of an innovative market-based policy valuation of fair market value, the Ashar Secondary Market Valuation
(SMV®).

For more than a decade, Jamie has earned the reputation as a determined client advocate in the life settlement market. Jamie is the go-to independent resource for advanced planners and fiduciaries nationwide who integrate the SMV® into their holistic planning process and select her to negotiate for their client if the decision is made to sell the policy. She has spoken at numerous financial services conferences and provides continuing education for both financial and insurance professionals nationwide.

Jamie earned her bachelor’s and master’s degrees from the University of Florida, where she was a member of the Alpha Delta Pi sorority. She is proud to be a member of Women in Insurance and Financial Services and dedicates much of her time and energy to the local and national Crohn’s and Colitis Foundation, where she serves as the President of the Central FL/North FL Chapter. She serves the community by speaking at education events and mentoring patients and their families. Jamie resides in Orlando, FL. She enjoys reading, traveling, and spending time with her family and friends.

About Our Presenter

Beaconwealthconsultingsouth

Beacon Wealth Consulting South (BWC) is a boutique firm located in Naples, Florida which specializes in creating tailored financial plans for high net worth families. Susan's expertise in estate, insurance, and tax planning is the basis for the comprehensive, multigenerational plans that she develops for her clients.

BWC is also an independent insurance brokerage firm that often partners with other planners who do not have insurance expertise. BWC customizes life insurance plans for the high net worth clients in the context of the family’s overall financial plan, often integrated with sophisticated estate and retirement planning strategies.

BWC prides itself on successful collaboration with the clients’ team of advisors and/or family office. Susan Joy Bruno, the firm’s founder, and is a nationally recognized CPA/PFS for her work in life insurance planning.

Susan recently launched “The Beacon Method” which is a consulting service to help CPAs launch a financial planning practice or simply help financial planners take their practices from good to great. Some of the topics she will cover include:

  • How to leverage junior staff members to help them grow while also making your clients happier
  • How and why to add women to your practice
  • How to use the 6Ds fire drill to motivate your clients
  • How to add more graphics for your visual learners
  • How to add life insurance consulting or brokerage to your practice without compromising your objectivity or integrity