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Chris Orestis

2019 CSA Conference

 

Chris Orestis, CSA

EVP, Secondary Markets
GWG Holdings, Inc.
corestis@gwgh.com

 

The Evolution of Life Settlements to Help Seniors Pay for Senior Living and Long-Term Care

This session educates insurance agents and advisors on the secondary market for life insurance, also known as viaticals and life settlements, as a tool to pay for retirement and long-term care. For over a decade, life settlements have been used to fund “Long-Term Care Benefit Accounts”, which are an irrevocable bank-trust account set up specifically to fund senior living and long-term care expenses. Endorsed by the NAIC in July of 2017 as a “private market innovation”, it is important for agents to understand this growing area for long-term care funding and how this approach will address immediate need for care for people who may have failed to plan and are now uninsurable.

Learning Objectives

  • Understand Long-Term Care Benefit Account funding, structure and utilization
  • Understand the modern secondary market regulatory environment
    • - NAIC Private Market Options for Financing Long-Term Care (July, 2017)
    • Congressional action to create a LTC Health Savings Account (HSA) 
  • Understand how policy owners are taxed
  • • Understand fiduciary liability issues
  • • Understand practical application of using life settlements from case studies

About Chris

Chris Orestis is an over 23-year veteran of both the insurance and long-term care industries, a nationally known senior care advocate, acknowledged expert on insurance, life settlements, and long term care issues, a former DC lobbyist and political expert, and very well known in the world of life/health insurance brokerage distribution. 

His career began with senior positions on a number of political campaigns before working in 1993 and 1994 for both the White House and the Senate Majority Leader on Capitol Hill. From that point, he spent the next several years representing the health and life insurance industry as a lobbyist in Washington, DC and in the states.

In 2007, he was the first to focus the use of life settlements as a tax-free vehicle for seniors to pay for Long-Term Care through the creation of an LTC-HSA. He has been a leader in the Life Settlement industry for over a decade.

Chris is a frequent industry speaker, and the author of the books “Help on the Way” and “A Survival Guide to Aging”, numerous published White Papers, and has been heavily published in the media on insurance and long-term care funding issues for the last 15 years. He is a frequent columnist for Broker World, Think Advisor, New York Daily News, and NewsMax Finance; and has been a featured guest on over 50 radio programs, and in The New York Times, The Wall Street Journal, CNBC, NBC News, Fox News, USA Today, Kiplinger’s, Investor’s Business Daily, PBS, and numerous other media outlets.

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