Should agents be required to inform clients about life settlements, and can carriers or broker-dealers legally prohibit them from doing so?
These are among the fundamental questions surrounding a potential landmark case for the life settlement market. You can read more about the specific case at the link below, but my question is, when it comes to a client who is considering taking the cash surrender value or letting a policy lapse, should you be 1) allowed and 2) required to inform them of the other options available, including the possibility of a life settlement?
This case in California, Larry Grill, et al. v. Lincoln National Life Insurance Company, could go a long way toward providing legal guidance on the subject.
Insurance Forums | Landmark life settlement case brings up fundamental questions for carriers, agents