North Suburban Legal Aid Clinic welcomes Sally Pissetzky Steele as director of domestic violence practice

North Suburban Legal Aid Clinic welcomes Sally Pissetzky Steele as director of domestic violence practice

LEGAL
Sally Pissetzky Steele Highland Park, IL — Feb. 27, 2024 — North Suburban Legal Aid Clinic (NSLAC) is pleased to announce the appointment of Sally Pissetzky Steele as the new Director of Domestic Violence Law Practice. She brings a wealth of experience spanning both private practice and public service and a deep commitment to serving and empowering underserved communities, particularly victims of domestic violence. In her new role as the Director of Domestic Violence Law Practice, Sally aims to further her dedication to helping victims of domestic violence, applying her comprehensive knowledge in domestic relations, and expanding her leadership in the legal services sector. Her unique blend of legal acumen, advocacy, and leadership skills positions her as a valuable asset to NSLAC's mission. Sally is also an Adjunct Professor at…
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Senate probes $40B tax shelter in private placement life insurance

Senate probes $40B tax shelter in private placement life insurance

INSURANCE
Senate Finance Committee Democrats released a reports Wednesday cast a skeptical eye on the private placement life insurance industry, claiming it functions as a tax shelter holding at least $40 billion in policies for a few thousand millionaires and billionaires.The staff committee's investigation found that PPLI policies are actively promoted to wealthy investors as a way to eliminate income, gift and estate taxes. They received copies of pitch decks from major PPLI providers promoting their products to ultra-high-net-worth people, telling them how to make tax-free investments in hedge and private equity funds. "Across the industry, PPLI providers actively pitch clients on using PPLI policies as a tax-advantaged wrapper for the purpose of investing in a wide range of asset classes and bypassing taxes on investment gains and the transfer of…
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How can reinsurance promote the growth of life insurance?

How can reinsurance promote the growth of life insurance?

INSURANCE
How can reinsurance promote the growth of life insurance? | Insurance Business America Reinsurance How can reinsurance promote the growth of life insurance? Global broker analyzes the sector's recent trends and its benefits for life insurers Reinsurance By Kenneth Araullo A new report from Marsh delves into the recent trend of financial institutions and private equity entities owning life insurance operations as companies increasingly recognize the strategic benefits of establishing offshore reinsurance entities. The global broker notes that life reinsurance offers enhanced financial flexibility and substantial capital relief for life insurers, also facilitating reductions in portfolio costs and enhancements in return on capital. This trend has contributed to a noticeable increase in the assets of offshore long-term reinsurance entities, particularly in Bermuda and the Cayman Islands. According to the Bermuda…
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Senate Committee Vows To Stop Private Placement Life Insurance Industry’s ‘$40 Billion Tax Shelter’

Senate Committee Vows To Stop Private Placement Life Insurance Industry’s ‘$40 Billion Tax Shelter’

INSURANCE
A sealed glass jar with a $100 bill inside on a background of $100 bills.Getty The Senate Committee on Finance conducted and investigated into the growing use of Private Placement Life Insurance (PPLI) policies—and found that “the industry is now at least a $40 billion tax shelter used exclusively by a few thousand millionaires and billionaires.” Committee Chairman Ron Wyden (D-Ore.) released the results of the 18-month investigation, which examined how PPLI policies are promoted to ultra-high-net-worth clients. The investigation found that PPLI represents just 0.003% of all individual life insurance policies in the US PPLI is permanent universal life insurance—with a twist. Permanent insurance is intended to last until the policyholder dies. Variable universal life insurance is permanent life insurance that combines a death benefit with a savings and…
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HGC Legal Aid Pilot Program Faces ‘Overwhelming’ Demand, Looks Towards Spring Expansion |  News

HGC Legal Aid Pilot Program Faces ‘Overwhelming’ Demand, Looks Towards Spring Expansion | News

LEGAL
The Harvard Graduate Council approved a resolution at a council meeting Monday night to continue a pilot legal aid program launched last fall.The resolution sets aside $5,000 of the HGC's spring budget to continue funding the program during the upcoming semester.The legal aid program, which the council launched last September, provides free legal consulting to graduate students at all twelve of Harvard's graduate schools through volunteer law school students.Thirty-three students, across a range of races and genders, signed up for legal consulting within the first eight weeks of the program launch. Students using the legal aid program sign up for 30-minute consultation sessions through Calendly. Ten students volunteered to give advice to recipients in the program, including three from Harvard Law School.During the meeting, members of the Harvard Graduate Council…
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How does life insurance dividends work?

How does life insurance dividends work?

INSURANCE
Life insurance dividends can put extra cash in your pocket, lower your premiums or beef up your coverage. However, not all life insurance companies pay dividends, and those that do can calculate them differently and offer different ways to use them. What are life insurance dividends? A life insurance dividend is a return on your life insurance premiums. It's generally based on how your insurer performs for the year. If the company does well financially — meaning it had successful returns on its investments, paid out less in claims and had lower operational costs than expected — then it may return some of the overpaid premiums to you in the form of dividends. These payouts are not guaranteed. The insurance company's board of directors decides annually if and how it…
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Attorney Richard Hillsberg to receive founders award at North Suburban Legal Aid Clinic’s May 2 fundraiser

Attorney Richard Hillsberg to receive founders award at North Suburban Legal Aid Clinic’s May 2 fundraiser

LEGAL
Richard Hillsberg North Suburban Legal Aid Clinic in Highland Park will celebrate its ninth anniversary and the opportunity to come together on Thursday, May 2. Business owners, civic leaders, and supporters will come together for a reception celebrating the legal aid clinic's success and growth at 6:30 pm at Pinstripes, 1150 Willow Road, Northbrook. The event will showcase the “Justice in Bloom” theme, symbolizing the belief that supporting NSLAC fosters a community where everyone has access to high-quality, comprehensive, and equitable legal representation. The evening's festivities will include a reception commemorating NSLAC's success and growth, a raffle, and the highlight of the event – ​​the presentation of the Nancy R. Rotering Founder's Award to attorney Richard Hillsberg. Co-chaired by Leslie Fields Katz and Jaime Rhum, the event aims to raise…
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What are life insurance exclusions?

What are life insurance exclusions?

INSURANCE
As you get older, having a life insurance policy in place may allow you to leave money to your loved ones if you pass away. However, not everyone knows that there are certain exclusions that might prevent your beneficiaries from claiming your death benefit. If you have a life insurance policiesit's important to know what those exclusions are so your loved ones can avoid any surprises following your death.Common life insurance policy exclusionsA life insurance exclusion is a situation or circumstance that prevents your beneficiaries from receiving it death benefit. Essentially, it means that certain causes of death are not covered by the policy. Life insurance exclusions are regulated at the state level, but insurance companies can decide which of those exclusions they include in their policies. Exclusions will be…
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Legal Aid Sues Mayor Adams Over Inaction on Rental Voucher Reforms

Legal Aid Sues Mayor Adams Over Inaction on Rental Voucher Reforms

LEGAL
The proposed class action suit was filed in New York State Supreme Court on behalf of four New Yorkers who say they should be eligible for CityFHEPS, but are closed out because the Adams administration has failed to implement laws expanding the program. Emma WhitfordMarie Vincent, center, a cancer survivor living in a Harlem shelter with her grandson, is one of the plaintiffs in the Legal Aid suit. The Legal Aid Society announced Wednesday that it is suing Mayor Eric Adams' administration over its failure to implement several laws passed by the City Council to expand eligibility for the city's housing voucher program.The lawsuit is the latest in an ongoing dispute between the mayor and the Council over reforms to the City Family Homelessness and Eviction Prevention Supplement (CityFHEPS) program,…
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What is short-term life insurance?

What is short-term life insurance?

INSURANCE
Key takeawaysShort-term life insurance is a type of term policy designed to cover individuals for a short period of time, often less than a year.There are two main types of short-term life insurance policies: temporary life insurance and annual renewable life insurance.Short-term life insurance may be a good solution if you need temporary coverage. However, it is typically more expensive than other life insurance plans if you plan to extend coverage past a year.You might be familiar with permanent or term life insurance. However, short-term life insurance is a type of term plan that offers coverage for up to a year. Although short-term life insurance isn't a fit for everyone, there are some instances where it makes financial sense. For example, short-term insurance might be a viable option if you're…
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