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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.
Click here to 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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Fortress Financial Group, LLC, a northern Colorado based financial planning firm, founded by Robert M. Smith, CFP, focuses on strategies to legally preserve and protect 401k, 403b retirement plans and other pension plans from federal and state income and estate taxes. Fortress Financial Group, LLC, serves local and regional areas of Colorado, including Denver, Boulder, Colorado Springs, Fort Collins, Loveland, Greeley, and other locations within the U.S.
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