Seminars and Continuing Education ProgramsFollowing his widely acclaimed book entitled, The Life Insurance Policy Crisis – The Advisors’ and Trustees’ Guide to Managing Risk and Avoiding a Client Crisis, published by the American Bar Association (Flagship Series), Randy Whitelaw, a seasoned speaker and prolific writer, has designed the Paradigm Shift Lecture Series to address the most pervasive life insurance issues faced by professionals today and the form of dispute defensible intervention appropriate for each. ‘Paradigm Shift’ is a scientific term that has also been used in a non-scientific context since the 1960s. Generally, paradigm shift reflects a profound change in a fundamental model or perception of events. Specific to life insurance, the introduction of flexible premium non-guaranteed death benefit products in the late 1970s was a profound change from the long-established fixed premium guaranteed death benefit life insurance policy model. Over 35 years ago, the widely acclaimed actuary, James Anderson, predicted creative destruction within the life insurance industry unless the industry introduced a simplified, flexible and less costly product, and concurrently a more effective distribution system. Changes to the traditional retail agent distribution system were not made. Today, due to misleading sales practices and post-sales policy inattention, there is a lapsing policy crisis, escalating litigation, and continued questionable, if not predatory, marketing practices.Following are the Paradigm Shift Lecture Series topics available in several presentation formats – live lecture, teleconference, or webinar presentation formats. CLE, CIE, and CPE accreditation programs are supported by Randy’s Course Summary, Timed Outline, Participant Handouts, and Subject-Matter specific Q and A. Additionally, a lecture can be designed to cover multiple topics. For information about these programs and Randy’s presentation fees, please call 702-254-8654 or email RWhitelaw@TrustAssetConsultants.com.
The Advisors’ and Trustees’ Guide to Managing Risk and Avoiding a Client CrisisA ‘big picture’ discussion of the intervention process required to (1) identify a failing life insurance funded plan, (2) demonstrate a prudent and reasoned plan, and (3) restructure the funding assets to maximize the probability of a favorable outcome. Life Insurance Counseling and Advisor Collaboration: The Long Overdue Paradigm ShiftA discussion of the transition to fee-based, process-driven life insurance counseling and collaboration with other professional advisors. This program, designed specifically for the retiring baby-boomer, uses a case study and sample forms to demonstrate how easily a collaborative process can be implemented and managed to maximize the client’s probability of a favorable outcome. Trust-Owned Life Insurance – The Plight of ‘Accommodation’ ILIT Trustees An overview of the challenges facing family members, friends and advisors who agree to serve as ILIT trustees but have minimal familiarity how to perform their trustee duties and prudently manage the trust asset to maximize the probability of a favorable outcome. Case studies are utilized.Family Office Life Insurance Counseling and Risk ManagementA review of the informational platform available to smaller family offices, family members and their key advisors to efficiently and prudently manage multi-generational wealth preservation and transfer programs funded with life insurance. This program can be designed to meet the objectives of each audience and usually includes discussion of other lecture topics. Trust-Owned Life Insurance Litigation: Lessons Learned A discussion of Randy’s experience in FINRA Arbitration and Litigation as well as a review of cases involving trust-owned life insurance. Case studies to include consideration of the controversial positions commonly argued by opposing counsels and their experts.Impaired Risk Medical Underwriting and Longevity PlanningAn overview of the medical underwriting process appropriate for carrier and product selection when the proposed insured, especially a senior, has a questionable medical history. Case studies are utilized, including a case study showing how longevity planning can be integrated into the policy design process. Viatical and Life Settlements: An Alternative to Policy Lapse or Policy SurrenderA summary of the settlement market and the role it plays in maximizing the asset value of life insurance. Is your client’s policy saleable?Equity Indexed Universal Life: A Call to Action A review of NAIC (National Association of Insurance Commissioners) AG49 illustration guidance that requires re-illustration of EIUL policies purchased prior to September 1, 2015. Dispute Defensible Policy Performance Evaluation and Prudent Risk Management An overview of (1) illustration abuse, including the ‘predatory’ use of illustrations for commission-motivated ‘unwarranted’ replacement proposals, as compared to (2) dispute defensible evaluation and informed risk management that conforms with the Life Insurance Policy Statement. Case studies are utilized. Protecting and Preserving Assets Earmarked for the Next Generation A discussion of (1) life insurance product suitability for multi-generational wealth accumulation, management, preservation and transfer planning, and (2) delegated plan management roles. This program includes a review of Institutional Life Insurance and its ideal investment planning and retention-priced design features. BEWARE of Questionable and Misleading Life Insurance Marketing PracticesA discussion of commission-motivated deceptive and misleading, if not predatory, life insurance marketing practices of sales agents, brokerage general agents and third-party policy administration/performance monitoring vendors. This program identifies the ‘red flags’ and explains how they can be easilyavoided.