Life Insurance can serve a variety of purposes. From Salary replacement to an investment vehicle to an estate preservation and wealth transfer mechanism. From Term to UL to Whole Life, there are various types of policies. Riders that help cover the costs of Long Term Care are gaining in popularity. All are worthy products that can make sense—the question is: What is the best solution for your particular situation?
Let’s spend some time to understand where your current life insurance portfolio stands. What may have made sense 5, 10, or 15 years ago, may not today. Your world has changed and your insurance needs to keep up. We make sound recommendations by first understanding your Personal Wealth Spectrum and how Life Insurance fits into the big picture.
For Trust Owned Life Insurance (TOLI), we provide assistance for Trustees with actuarially defensible solutions1. Defensible TOLI product suitability determinations require annual verification of four criteria:
- Does the policy remain suitable for the trust’s purpose as set out in the TOLI Investment Policy Statement?
- Are scheduled premiums adequate to sustain the policy for the insured’s lifetime?
- Have third-party carrier ratings deteriorated?
- Are trust administration and policy costs reasonable and appropriate?
Let’s begin the conversation now…
1Services provided in conjunction with Trust Asset Consultants, LLC.