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ALERT For Life Insurance
Agencies and Agents On
Life Settlement Disclosure
Investment News recently posted an informative article for life insurance agencies or brokers on life settlement disclosure.
The article mentions cases where life insurance policyholders sued their financial advisers and/or agents for not informing them about their ability to sell a life policy in the secondary market. Lawyers and many life settlement industry officials warn that life insurance policy owners should be advised of this third option - the ability to sell their policy - in cases where a decision is being made to surrender a life insurance policy or to let it lapse.
This news supports growing evidence of an emerging fiduciary duty surrounding life settlements.
Read the entire adviser liability article
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"Life insurance settlements provide living benefits that can be utilized by individuals, corporations, trusts, and non-profit or charitable organizations, alike. Senior policy holders, certified financial planners and their clients need to be aware of the tremendous monetary value hidden within many life insurance policies." - Robert M. Smith, CFP
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Robert M. Smith, Certified Financial Planner professional/CFP, is President and founder of Money Mentors LLC, a northern Colorado-based financial planning firm that focuses on retirement help and strategies for seniors searching for more income, asset protection information, and legal ways to eliminate estate and income taxes on certain retirement assets. Money Mentors LLC, serves major Colorado cities including but not limited to, Denver, Boulder, Colorado Springs, Fort Collins, Loveland, and Greeley as well as other U.S. cities.
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