Applying the Uniform Prudent Investor Act to Trust-Owned Life Insurance: The Impossible Dream or a Match Made in Heaven
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The Uniform Prudent Investor Act (UPIA) requires all trustees/fiduciaries to manage, monitor and evaluate trust assets and investments for the benefit of the beneficiaries of the trust. Yet, mounting evidence is indicating a "ticking time bomb" of life insurance policy insolvency and lapse for nonguaranteed trust-owned life insurance (TOLI). This live webinar will discuss the applicability of UPIA to TOLI and discuss the significance of the Cochran v. KeyBank Case. Additionally, nonguaranteed universal life insurance, or any other policy whose performance is based on nonguaranteed elements, the risk of policy sustainability, performance and solvency was shifted from the life insurance carrier to the policy owner. This webinar will explore the risks in life insurance policies and provide a process for managing the life insurance policy risk, as well as the proper "dispute defensible" evaluation of nonguaranteed life insurance policies, which account for policy return volatility and place a statistical confidence of probability on policy results.
Speaker: Gary L. Flotron
Course Content:
| Preface – the Ticking Time Bomb of the TOLI Insolvency Crisis |
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Review of the UPIA and Its Applicability to TOLI |
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- The Irrevocable Life Insurance Trust (ILIT) and the Unique Characteristics of Life Insurance
- Review of UPIA With Comments
- State Statues Exculpating Trustees of ILITs
- Cochran v. Keybank Case
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Managing and Evaluating Life Insurance |
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- Key Word Is Managing
- Risks of Life Insurance Policies
- Process of Managing Life Insurance Policies
- Evaluation of Life Insurance
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