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By Brian T. Casey & Dan Young - Oftentimes, a client accumulates multiple life insurance policies as financial and estate planning needs change. But when a client's needs for maintaining a policy ceases, a life settlement—selling one's policy to third party investors for less than the contract's face value but more than the cash-surrender—may be appropriate.
Accordingly, financial advisors should understand the regulatory requirements applicable to representing a client for whom a life settlement may be suitable and the due diligence procedures that should…
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