Due Diligence of Trust-Owned Life Insurance

Due Diligence of Trust-Owned Life Insurance is an impactful and timely resource for any attorney who wishes to safely guide their clients through what can be a confusing maze of life insurance policies sold in today’s market.

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ISBN: 9781634259781
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ISBN: 9781634259781
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Life insurance properly acquired and actively managed is one of the best long-term solutions to assuring financial liquidity at death. Due Diligence of Trust-Owned Life Insurance is an impactful and timely resource for any attorney who wishes to safely guide their clients through what can be a confusing maze of life insurance policies sold in today’s market.

Why is this book so necessary? Recently, numerous class action lawsuits have been brought against life insurance companies by disgruntled policy owners due to failed policy performances. Many buyers who relied on the projected values contained in sales illustrations at the time of purchase are now experience serious buyer's remorse. Estate planning attorneys are often asked by clients to attend meetings with agents to help guide clients in making the right decisions, making it essential that counsel can decipher, understand, and explain the language in and differences among life insurance policy contracts.

Due Diligence of Trust-Owned Life Insurance clearly explains policy provisions and details in an understandable fashion, making important decision-making criteria is finally accessible to the practitioner. At the same time, it also includes a rigorous treatment of key insurance contract provisions to help attorneys understand how different contract details can materially impact their clients. Topics include:
  • The Uniform Prudent Advisor Act
  • Policy options and riders
  • Inherent risks in life insurance products
  • How to choose ideal policy styles
  • Reading a non-guaranteed universal life illustration
  • Premium financing
  • Trustee involvement and acceptance, and more
To illustrate this challenging material, the authors include graphs and charts as well as sample forms and schedules. Additional material includes a glossary of terms and the rating systems of the five major rating agencies.

Whether you are a newly appointed trustee—or one who has been acting in that role for many years—if any of these statements are true for you, you will find this book a valuable resource. This concise and useful guide has been written in collaboration with insurance agents, actuaries, attorneys, and others with requisite expertise and the focus has the personal trustee in mind.

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