Should you convert to a limited liability company?
Article Abstract:
Life insurance brokers, producers, and financial planner, should consider converting their businesses to the limited liability company (LLC) or limited liability partnership (LLP) structures. LLCs receive partnership tax benefits, while providing corporation-style liability protection often needed by insurance and financial professionals. Prior to conversion, issues regarding reciprocity of entity treatment in foreign jurisdictions, treatment of partners, and the use of the cash accounting method must be addressed. Generally, LLCs are convertible from existing partnership, sole proprietorship, or corporate structures, and compare favorably with other business entities.
Publication Name: Journal of the American Society of CLU & ChFC
Subject: Law
ISSN: 1052-2875
Year: 1996
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Trends shaping the future of the life insurance industry
Article Abstract:
The life insurance industry from executives to agents must reevaluate its organization and planning for the future in light of the major changes occurring in US society. Some of these trends included dual-income households, increased racial diversity, focus on products for post-retirement years such as long-term health care and disability insurance, demand for quality service, risk classification and Risk Based Capital standards. The industry must respond to these challenges by reorganizing its products and personnel to address customer needs.
Publication Name: Journal of the American Society of CLU & ChFC
Subject: Law
ISSN: 1052-2875
Year: 1993
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Professional liability insurance for life insurance agents
Article Abstract:
Life insurance agents should assess coverages of various types and components of professional liability insurance to ensure the most cost-effective means of addressing exposure to liability. Forms of coverage include individual, agency, and company. Other differences include underwriting, description of insureds, administration, and pricing.
Publication Name: Journal of the American Society of CLU & ChFC
Subject: Law
ISSN: 1052-2875
Year: 1998
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