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October 25 2017 - Evening Education Meeting
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When: Wednesday, October 25, 2017
5:00 PM - 8:00 PM
Where: 3 West Club
Room: Solarium
3 West 51st Street
New York, New York  10019
United States

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Date: Wednesday, October 25, 2017

Time: 5:00 PM - 8:00 PM


3 West Club
Room: Solarium
3 West 51st Street
New York, NY 10019

Advanced Planning Strategies Using Life Insurance & Long Term Care as an Asset Class

The presentation for this event will not be posted on the website but will be given to attendees only.

Long time sponsor Fortis Lux Financial and FPANY President-Elect Devika Kamboh, CFP®, CLTC, MBA of Kamboh Financial Planning

Program Description:
This session discusses strategies employed for high net worth individuals and business owners using life insurance and long term care vehicles. How to design Spousal Lifetime Access trusts, grantor trusts and strategies to fund buy sell agreements will be discussed using a case study. Appropriate asset classes for funding trusts for a special needs dependent will also be included. A comparison of different types of life insurance and how to position them as an asset class in a Client portfolio followed by criteria to consider when advising a client to buy long term care as a rider inside an insurance policy versus stand alone policies will wrap up this presentation.

Learning Objective:
Use of Life Insurance in Estate Planning a. Explain the ways in which life insurance can be used in estate planning. i. Estate liquidity including debt payoff ii. Estate protection iii. Estate creation (Wealth accumulation) v. Business buy-sell b. Explain how different types of insurance can be used for different estate planning purposes and also structured differently through a client's financial life cycle c. Explain how insurance ownership strategies can be used in estate planning. Business use of Life insurance a. Distinguish the difference between the three types of buy/sell agreements and their appropriate uses. i. The Cross Purchase Agreement ii. The Entity Purchase Agreement iii. The Wait and See Agreement Using Life insurance as a retirement planning tool a. distribution from cash value life insurance policies to supplement retirement income b. tax considerations when using life insurance cash value distributions.

Level of Complexity:

Applying for 2 CFP® CE credits with the CFP Board. You can also earn 2 CPE credits for NY licensed CPAs.

Registration Fees:
FPANY Member - Free
Non-FPANY Member - $50
NYU Student - Free (Please contact us at to register.)

About our Speaker:
Devika Kamboh, CFP®, CLTC, MBA Financial Planner SpecialCareSM Planner Investment Advisor Representative CA License#0D16705 Devika is a CERTIFIED FINANCIAL PLANNER™ professional who heads Kamboh Financial Planning. She focuses on complex estate planning and long term care planning issues and is also trained in special needs planning. She has been giving workshops to parents and caregivers of dependents with special needs since 2006. Devika has been helping clients with their financial planning goals since 2001. The goal is to provide a one stop shop for all financial planning needs that our clients have by partnering with Tax and Legal experts. She offers robust solutions for individuals and businesses on all aspects of their financial issues- from business and succession planning goals to wealth management, insurance, retirement and estate planning. She also provides advice on employee benefits that include group health insurance, pension benefits, cafeteria plans and customized benefit packages that include retirement solutions for business owners and their key employees. Devika is the President –elect of Financial Planning Association of NY (FPANY) and has been an active Board member since 2005. After a brief sabbatical as a board member she joined the NY Board again in 2015 as the Director of the high profile Annual Forum. She has volunteered at various non-profits to help spread financial literacy – these have ranged from giving financial literacy seminars at the NY Public Library to domestic violence shelters like Sanctuary for Families and also non-profits like Project Renewal that helps the homeless in NYC. She has also conducted financial literacy workshops at Drug Rehab programs like the Samaritan Village in mid town Manhattan. As a Board member of the NY Chapter of Women in Insurance and Financial Services (WIFS), she rang the opening bell at the NYSE to commemorate the 75th anniversary of the WIFS on December 27, 2011. She has also served on the Board of the NY chapter for Executive Women’s Golf Association (EWGANYC) between 2014-2016. Devika has given several seminars to physicians and affluent professionals on financial planning issues and has close ties to the South Asian community where she has sponsored events for various community associations. She completed her Bachelors in Economics in India and got her MBA degree in Scotland before deciding to start her career in the financial sector in NY in 1999. In her free time she enjoys golfing, horse riding and scuba diving.




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