NYS Regulation 187

Date: Monday, May 13, 2019
Time: 6:00am - 8:30am
Location: Four Brothers Restaurant - Mahopac, NY
Speaker: Steven Zeigler of Waxman Lawson Financial

The New York State Department of Financial Services recently issued a Best Interest Rule for Life Insurance (Regulation 187.)  This new rule is similar to other fiduciary rules requiring life insurance producers to "act in the best interests of the consumer ... based upon an evaluation of relevant suitability information ... with the care, skill and dilligence of a prudent person considering only the interests of the consumer in making recommendations."

This educational presentation will contrast prevailing industry practices with the requirements under this new rule, consider ethical implications to other estate planning professionals (CPAs, Attorneys, Wealth Managers, etc.) and show how to comply with the new requirements using decision making framework already widely accepted by fiducuaires for most every other asset on the balance sheet. 

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