Center Offers Classes on Life Settlements.The Coventry Center for Financial Professionals, a center formed in January 2000 to provide education on life insurance valuation and life settlements, is offering seminars across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The seminars offer continuing-education credits for insurance, legal and certified financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against professionals. "The market for life settlements has been growing rapidly over the past year, and professional advisers nationwide are incorporating life settlements into their practice," said the center's Constance M. Buerger. "The center's goal is to raise the level of professionalism in the life-settlement marketplace." A life insurance valuation determines the fair-market value of a life policy, while a life settlement gives policyowners the ability to access this value by selling their existing policies and receive a cash amount in excess of cash-surrender value Cash-surrender value The amount an insurance company will pay if the policyholder tenders or cashes in a whole life insurance policy. . Based in Fort Washington Fort Washington, military post during the American Revolution, situated on the highest point of Manhattan island, New York City, overlooking the Hudson River opposite Fort Lee, N.J. , Pa., the center has offered courses on behalf of local and state insurance associations, estate-planning councils, financial-services professional associations, broker-dealers, brokerage operations and national producer marketing groups. It is approved to offer courses or is pending approval for continuing education continuing education: see adult education. continuing education or adult education Any form of learning provided for adults. In the U.S. the University of Wisconsin was the first academic institution to offer such programs (1904). in 44 states. Life settlements are a relatively new phenomenon, so it is fertile ground for unscrupulous parties. A working group of the National Association of Insurance Commissioners The National Association of Insurance Commissioners (NAIC) is an Internal Revenue Code Section 501(c)(3) non-profit organization which seeks to organize the regulatory and supervisory efforts of the various state insurance commissioners from around the United States. is currently working on a model act covering life settlements. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion