Video Training Conference   2 Hour CE approved for Insurance, CFP, CLE , CPA and PACE "The Uniform Prudent Investor Act & Trust-Owned Life Insurance: The Impossible Dream or a Match Made in Heaven"

Program Overview

The Uniform Prudent Investor Act (UPIA) imposes a duty on all trustees/fiduciaries to manage, monitor, and evaluate assets and investments under their care for the benefit of the beneficiaries of the trust, a duty which also applies to Trust-Owned Life Insurance (TOLI). Despite numerous professional articles pointing out the applicability of UPIA to Trust-Owned Life Insurance (TOLI), the vast majority of trustees/fiduciaries have not applied these statutes uniformly with respect to TOLI. This program, which references the Stuart Cochran Irrevocable Trust v. KeyBank, N.A. case, examines the risk management of life insurance. It identifies the techniques and resources available to trustees to evaluate permanent life insurance policies and reviews UPIA and its applicability to TOLI. The program also examines the nature and explains the pricing elements of life insurance and the most common types of permanent life insurance policies, their reliability and usefulness, and the problems associated with "comparing apples to oranges." Attendees will look at the process of creating benchmarks for permanent life insurance policies, review various evaluation methods available to comply with UPIA, the pros and cons of each, and whether or not these systems meet the "dispute defensible" test for the fiduciary and avoid allegations of predatory practices.

By the end of the program attendees will understand:

• What the UPIA is and how it applies to Trust-Owned Life Insurance
• How the Cochran v. KeyBank case affects trustees and fiduciaries in the management of life insurance
• The red flags and predatory practices trustees/fiduciaries need to avoid in managing life insurance policies
• Life Insurance Policy Management Statements

Who should attend?

Financial planners, insurance producers, investment advisors, and retirement counselors