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The Life Auditor

BECAUSE WE BELIEVE THAT TRUTH AND INTEGRITY ARE THE BEST FORMS OF FINANCIAL ADVICE:

The insurance specialist is an insurance expert with experience in various fields of life insurance including: pricing and product design, actuarial mathematics, insurance law, insurance taxation and Income tax Act, marketing and sales of life insurance, reinsurance, underwriting, policy service...

To act as an auditor, the insurance specialist must be able to prove that he can audit a policy outside of any potential conflicts of interests and that his audit cannot be influenced by any past employment or affiliation with an insurance company.

To act as an auditor,the insurance specialist cannot be licensed to sell life insruance or be a member of any industry association unless it is a consumer organization.


Consumer Advocate


Consumers’ standards are the only standards worth having!!!

We believe that the field of auditing/evaluating life policies should be controlled by rigorous standards to protect the consumers. We conduct our audits based on the following standards:


1) The auditor/insurance specialist will disclose his status and any possible conflicts of interest prior working for a policy owner. An auditor can call himself independent if he does not do any work for any insurance companies and is not involved directly or indirectly with any third party involved with the purchase or loan on insurance policies. If the auditor is not independent, he must disclose all of his relationships and potential conflicts of interest prior proceeding with the audit of a policy. There are no problems with an auditor not being independent and doing audits. The problem is not letting the policy owner know what could inflence the results of an audit!


2) The auditor who is independent will refuse to receive payment or reference fees associated with facilitating any form of life settlements.


3) All auditors whether they are independent or not will not pay any referral fees to any professionals or include in their billing expenses for the work of other professionals. Insurance agents in particular already receive service commission for servicing the policies they have sold. Part of their service responsibilities is to help their clients with a possible life settlement. Payment of a referral fee to such agent would constitute “double dipping” remuneration and is highly unethical.

Note: if the agent who is responsible for servicing the policy and is not receiving the commission for the service of the policy, the consumer should agree to let this agent bill the insurer and the original agent for their time.

4) All auditors will provide a range of different scenarios to the policy owner showing that the FMV is dependent on the selection of certain variables such as interest rate and future insurability. These scenarios will range from aggressive to conservative. It is ultimately the choice of the consumer to select the scenario

Click to the link below to request that an evaluation be arranged through FSCA
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