Insurance Update
TOPIC: Insurance “Best Interest” Pressures: New Considerations for Estate Planners (not just Life Insurance Professionals)
The meaning of “Client’s Best Interests” for life insurance product recommendations has been redefined. National Association of Insurance Commissions (NAIC) Illustrations Model Regulation #582 is no longer the standard. NIAC Reg #582 permitted insurers to “quote” a low premium while charging high costs WITHOUT disclosing the correspondingly higher risks of additional “premium calls” or policy lapse. Because of this, NAIC illustration comparisons are now considered “misleading”, “fundamentally inappropriate” and unreliable by financial, insurance, and banking industry authorities, and expose fiduciary advisors to risks of breach of their duty to exercise reasonable care, skill, caution and prudence. This session will therefore identify and address the factors which all estate planners must now consider given new “Best Interest” Pressures.
After you register you will be sent two (2) Zoom invitations:
- 12:00 – 1:00 Webinar
- 1:00 – 1:30 – Network with a small group of your colleagues! Also a great place to discuss the seminar.
This program has been submitted for approval by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1 hour of total CLE credit. Of these, 0 qualify as hours of credit for ethics/professionalism, and 0 qualify as hours of credit toward certification in civil trial law, criminal trial law, workers compensation law, municipal court law, and/or matrimonial law.
CFP and CPA continuing education credit will be offered for this presentation pending approval.
Gary Walker
First Vice President
Program Chairperson
No charge for Members
Guest Fee **$50.00
** $50 fee will be applied to $295 Membership Dues for guests who join EPCNNJ after this presentation.
Please respond by Tuesday, Octoberber 9, 2020
