This week LIMRA held its Annual Advanced Sales Forum in San Diego. The title of the event was “Forecast: Bright and Sunny Sales Ideas”. The event was well attended by executives of advanced markets groups for life insurance companies, distribution channels and other associated with the organization.
“Our expectations were well met”, said John Frey, Director of Corporate Sales, National Underwriter Advanced Markets. NU’s Advanced Market team was well represented. Accompanying Mr. Frey at the conference was Dean William Byrnes of the International Tax & Financial Services Program, Thomas Jefferson School of Law & Benjamin Terner, Author & Editor, Advanced Markets.
Forum sessions presentations included:
“What’s Hot…What’s Not 2011 Edition” by Lawrence Brody, J.D., LL.M. & Thomas Commito, J.D., LL.M, CLU, CHFC, AEP. This topic examined recent developments affecting life insurance, estate and tax planning. Specifically the presenters focused on planning after the 2010 Tax Relief Act, recent decisions on policy valuations and recent decisions affecting estate planning.
“Yesterday, Today and Tomorrow: An Economic Update” by Dr. Robert T. LeClair, Associate Professor of Finance, Villanova University. Dr. LeClair’s talk focused on the current economic conditions both domestically and globally. He examined past data in connection with present day national fiscal position as well as discussing future implications and projections. His research focused on the major challenges the U.S. faces going forward in the years to come. His timely presentation was complemented by very volatile markets recently.
“Uncovering the Secrets of Social Security” by Frank Rainaldi, CLU, CHFC, DAEP, Chief Executive Officer, The Kugler Company. Mr. Rainaldi’s discussion focused on the misinformation surrounding social security. Particularly, many recipients don’t understand how to maximize spousal benefits. He noted in his discussion how one spouse can receive spousal benefits while both spouses receive the eight percent per year Deferred Retirement Credits from age 66 to 70. He also discussed how a worker or spouse can receive reduced early retirement benefits and subsequently qualify for the eight percent delayed retirement credit, as well as, the advantage of a spouse receiving spousal benefits that are based solely on the other spouse’s work record rather than a combination of both spouses’ work record.
“Standards of Care: How Consumers, Advisors and Producers Perceive ‘Fudicary’” by Maribel Gerstner, J.D., CFP, CLU, ChFC, CRCP, and Richard Weber, CLU, AEP. The discussion was focused around the Dodd-Frank’s implication on the financial services industry. Specifically, the harmonizing of standards of care was front and center to the discussion topic.
The breakout session discussions included topics such as:
“Sun or Rain? Flexible ILITs Have you Covered!”
“Advanced Planning Opportunities with Annuities”
“LTC Solutions for Families, Business Owners, and Affluent Clients”
“409A, Bonus Plans, Sec. 79 – An Advisor Guide”
Tomorrow’s blogticle will continue to discuss advanced planning regarding year-end considerations.