2007 AALU ANNUAL MEETING:
WE'RE GOING, ARE YOU?
The Association for Advanced Life Underwriting (AALU) Annual Meeting is coming up later this month and, as always, The Lifeline Program® will be an exhibitor. This premier gathering of life insurance industry professionals stands to be a beneficial learning and networking opportunity. Scheduled for April 29 - May 2, 2007, in Washington D.C., this year marks the 50th anniversary of the event.
We invite you to come by Booths 302 & 303 to see what Lifeline has in store at AALU. We encourage you to attend and we look forward to seeing you there.
THE DEBATE CONTINUES AS THE NAIC DELAYS ITS VOTE ON
PROPOSED AMENDMENTS TO ITS VIATICAL SETTLEMENTS MODEL ACT
Last month, several important developments occurred in the ongoing Life Settlement industry saga that the recently proposed amendments to the NAIC's Viatical Settlements Model Act has become. On March 2nd, during a meeting to discuss Life Settlements, the National Conference of Insurance Legislators (NCOIL) voted unanimously to request that the NAIC delay final action on the NAIC proposed amendments until December 2007, providing NCOIL time to develop its own (revised) legislative model.
Several days later, the NAIC did in fact delay its vote, stating the move was not in reaction to NCOIL's request, but rather to consider further changes designed to ensure that the proposed amendments would not violate the National Bank Act and the Gramm-Leach-Bliley Act. The NAIC has said it will move to ratify the revised model in June of this year.
From The Lifeline Program®'s standpoint, the delay makes sense. We continue to support intelligent Life Settlement regulation, but believe that rushing to judgment usually is not a prudent move. In this situation and with the level of controversy surrounding the proposed amendments, we believe taking more time to review and consider the effect of the specific changes is the best course of action. That way, ideally, the most effective model will result and be utilized by legislators to enact policy that not only provides safeguards to consumers but also protects their rights.
Ultimately, well-constructed, thoughtful regulation is necessary and desirable because it provides standards which further improve the Life Settlement industry. At the same time, though, too many restrictions may keep the very individuals who need or could benefit the most from Life Settlements from being able to recognize their unique benefits. This is why The Lifeline Program® continues to also support self-monitoring, and encourage consumers and professionals alike to do their own due diligence. That, we believe, is one of the best ways to make sure the interests of policyowners and insureds are given the high priority they deserve.
DON'T FORGET TO TUNE INTO SCOTT PAGE'S BLOG, INSIDE LIFELINE,
FOR PERSPECTIVES ON THE LATEST INDUSTRY ISSUES AND NEWS.
OUR PEOPLE IN THEIR OWN WORDS
| NAME | Vanh Sengaphone |
| POSITION | Facilitator Relations |
When I joined the company in July 2006, I quickly found that my past experience and skills were most compatible with Facilitator and Broker relations, and jumped right in to fill this role. In my current position, I work closely with our Facilitator and Broker network to ensure that the company effectively meets their needs and demands. Each day, I liaison between company personnel and our valuable policy sourcing network, helping to process and maintain our case files, while working with the Processing team to keep cases current, active and moving. Having never worked with a Life Settlement provider before joining The Lifeline Program®, I was somewhat unsure of what to expect from an industry I knew nothing about. However, things have been great since the very beginning. The Lifeline Program® has an amazing corporate culture that stresses a fun and productive working environment, while also providing challenging goals for its departments and employees. This creates an environment where feeling good about your job and finding a true sense of accomplishment are easy to do. | |
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"Lifeline Newsline" is intended only for life insurance & financial professionals and life settlement brokers, and is not intended to be an advertisement,
is presented for informative purposes only, and neither purports to be nor is presented as legal or professional advice of any kind.
If you are not a life insurance & financial professional, or a life settlement broker then please disregard this communication.
Wm. Page & Associates, Inc., d/b/a The Lifeline Program®, does not guarantee or warranty the accuracy of the information herein.
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© 2007, Wm. Page & Associates, Inc., d/b/a The Lifeline Program®.