Financial Advisor Information
“CPAs can help both individual and corporate clients or employers sell the right to collect on these otherwise dormant assets in the aftermarket.” - Journal of Accountancy, 2001 

Why Certified Public Accountants need to know about Life Settlements:

CPAs who serve both affluent seniors and corporate clients should take advantage of the opportunities available in the growing life settlement market. It is very important for a CPA to have an understanding of the life settlements and their potential applications.

Life Settlements for High Net Worth Seniors:

As a CPA, you should be able to assist your clients in understanding the value of all the assets in their portfolio. If your senior clients maintain unnecessary insurance policies that they no longer can afford, or are in danger of lapsing in the future, you can assist them in appraising the true value of that policy in the secondary market. This new understanding of the true value of this asset may have a significant impact on their financial situation.

Life Settlements can also provide the solution to other financial planning objectives:

Other financial planning objectives would include allowing your client flexibility for other investments, freeing cash for emergencies or anything else they might want, providing someone the necessary finances for long term care, and creating the ability for charitable giving.

Business Applications for Life Settlements:

Life insurance policies for business owners protect for the loss of key employees, fund executive benefit plans, fund buy-sell agreements, and/or secure loans. When these concerns are no longer relevant due to retirement, change of ownership, or other factors, the policies can be surrendered or allowed to lapse because they have lost their value. CPAs advising businesses can help them to discover that this asset may have value in the secondary market; therefore, it is important to be aware of the business applications for Life Settlements.

 
 
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Veris Settlement Partners, Inc. is a multi-state viatical and life settlement broker. Veris Settlement Partners, Inc., and/or its affiliate firms Chesapeake Financial Settlements, LLC and Select Life Settlements Corporation, and/or one of its four directors as individuals, is licensed as a life settlement broker or viatical settlement broker in the following regulated states: AR, CT, FL, GA, HI, IN, LA, MD, MS, NC, NJ, NY, PA, TX, UT, VA.

Depending on the medical condition of the insured, Veris Settlement Partners, Inc. may or may not be able to broker a life insurance policy owned by a resident of the following states: CA, DE, IL, MA, MN, NM, OR, VT, WA, WI.

Veris Settlement Partners, Inc., and/or one of its four directors as individuals, may broker a life insurance policy owned by a resident of the following states that are not regulated and do not require licensure: AL, AZ, DC, ID, MI, MO, NH, RI, SC, SD, WY.

Some or all of the proceeds from a life settlement may be taxable under federal or state income tax laws.  Advice from a professional tax advisor is recommended. Veris Settlement Partners, inc. is not a viatical or life settlement provider.

This Compliance Notice is current as of August 15, 2008 and is subject to change.