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When a policy goes into grace or a client contacts a carrier to surrender or lapse a policy - some states (like Maine) are requiring the carriers to send out a Life Settlement information packet to the policy owner. More and more states are going to start requiring this in the future.
While its not you may not have a responsibility legally to your clients to tell them about life settlements. I am sure if they get this packet the will ask 1) what is a life settlement and 2) why didn't you tell me about this months ago when I said i no longer wanted/needed this policy.
While its not you may not have a responsibility legally to your clients to tell them about life settlements. I am sure if they get this packet the will ask 1) what is a life settlement and 2) why didn't you tell me about this months ago when I said i no longer wanted/needed this policy.