|What We Do
|Life Insurance Claim Denial|
|Failure to Pay or Underpayment of Claims|
|Errors and Omissions in Coverage|
|Life Settlements Lawsuit|
|Stranger Owned Life Insurance (Soli)|
|Insurance Expert Witness|
Member of the AICPA faculty of
teaching professionals. AICPA author,
instructor & national speaker National
Society of Accountants.Speaker of the
Year. Writes financial articles for over
50 national publications.
|Life Insurance and Insurance Litigation expert witness
Lance Wallach has never lost a case
|Stranger Originated Insurance Cash Outlay
A commonly used program for allowing Elderly individuals to purchase life insurance with no cash outlay, and with investors holding the primary interest in the death benefit, was by the use of an
annuity that a finance company would require the borrower to purchase with loaned funds. The annuity was designed to pay the premium on the policy for the life of the insured and the interest on the
loan used to purchase the annuity, and the vast majority of the death benefit, regardless of whether death occurred shortly after the date of policy issuance or many years later, would go to the
company financing the premiums and the annuity. The trust would receive a small portion of the death benefit, which would be paid to those with an insurable interest in the insured’s life, but as with the
other programs, the trust would not be required to pay any cash to acquire the policy.
Upon information and belief, the end result of these various methods of finance transactions for elderly individuals was that insurance companies was able to sell a large number of policies, at
extremely high premiums, to elderly individuals without significant expenditure. Upon information and belief, insurance companies was well aware of each of the foregoing types of financing transactions
and knew full well that all of the transactions led to the ultimate ownership of the life insurance policies passing from elderly individuals with an insurable interest in the person insured to investors without
an insurable interest, but fully in accordance with relevant law as the transfer would occur after the policies had been issued. This new market for life insurance policies — the life settlement market —
was well known throughout the life insurance industry, was the subject of a number of articles in the investment press and was criticized by many other life insurance companies – but some insurance
companies — that did not like the idea of insurance policies ending up as investments with various hedge funds and private equity funds.
There are a lot of complex scams involving life insurance policies. What looks like a good idea on paper may leave you with fewer assets and less protection, while lining the pockets of salesmen and
insurance brokers. Many people are convinced to sell their current life insurance policy in order to pay the premium needed to "upgrade" their policy. All the money you have lost goes straight to the
agent, while your new policy may even cost you more and protect you less.
If you believe that you have been the victim of life insurance sales fraud, we can help you evaluate your claim and explore your options. With considerable experience handling long-term disability and
life insurance coverage claims, Lance Wallach also wrote the book on life insurance that others get CPE from.
|Lawline.com Continuing Legal
Lance Wallach, a prominent and highly recommended life insurance expert witness and annuity expert, works with legal
representation of both Plaintiffs and Defendants in legal cases dealing with annuity claims and life insurance disputes.
Regardless of which side you represent, your position will always be strengthened and unified with a knowledgeable and quick
thinking expert on your team. Having the right life insurance expert witness or annuity expert to represent you and your case
displays a much-needed element of credibility. Lance will work hand-in-hand with your legal team to deliver the best possible
representation, ensuring you win your case.
Collecting life insurance death benefits can be a daunting task. Unfortunately, life insurance disputes and other coverage issues
arise often and for many different reasons; ranging from bad professional advice, confusing application forms, to entire policies
that are not fully understood by the agent or the insured. Steve provides expert, informative and well-documented opinion
reports, case-specific research, fact analysis, and a critique of opposing expert’s testimony to make sure you win your case.
Get the best life insurance expert witness available to give yourself the best chance of collecting life insurance death benefits and
winning all life insurance dispute related issues.
Areas of Lance’s Services Include:
|Areas of Lanc'es Expertise Include:
Insurance Expert Witness for all life insurance matters
including: term life, whole life, universal life, variable life and
indexed universal life as well as all matters of life insurance
disputes and life insurance contestability.
Annuity Expert for all annuity matters including: fixed annuities,
indexed annuities and variable annuities.
Life Insurance Sales Practices.Annuity Sales Practices.
Insurance Sales to Seniors.
Market conduct issues.
All life insurance policy matters.
Life insurance applications.
Life insurance claim disputes.
Welfare benefit trusts.
Life insurance in pension plans.
Irrevocable life insurance trusts.
Split dollar plans.
Corporate owned life insurance.
Buy Sell agreements.
Charitable owned life insurance.
|Have you purchased an IRC 419 Employee Welfare Benefit Plan,a captive insurance or section 79 plan, after being told the contributions were fully deductible from federal and state income taxes, only
to find out that this was not the case?
Did you purchase a trust you may not have needed, funded with substantial amounts of life insurance because you were told you could build up cash value tax-free and then have use of the funds
If you have been misled about information regarding your employee welfare benefits, you may have been the victim of 419 and 412 plan fraud.
When consumers are misled and given false information by insurance brokers, they have the right to sue the fraudulent agents and insurance company that sold the plan. With over forty years of
insurance litigation experience, attorney Guy Kornblum has the experience and resources to help you get your money back, and possibly even the taxes, interest and penalties you had to pay as well.