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A TOLI Update for Trustees

Thursday, January 15, 2015

Veralytic was able to share a suite with Insurance Trust Monitor at this year's Heckerling and we came across this excellent article written by Michael Brohawn of ITM, reflecting on observation made in 2014 and a peek into 2015. A keen observation made about policy replacements caught Veralytic's attention on "one area of growing concern in 2014 has been the quality of the replacement policy options forwarded to us for review. I am not sure if it is the lackluster sales in the high end market, but we saw more “bad” replacements this year than in any past year... Policy selection is determined by particular facts and circumstances. What has been troubling to see is the seemingly limited ability of agents to act as true advisors. We will receive a “recommendation” based on an “analysis” that consists solely of dumping the cash value of the existing policy into a new policy. Sometimes a simple modification of the existing policy produces far superior results, though no new sale."

If you missed Veralytic or ITM at Heckerling this year, look for future e-newsletters about our experience and a in-depth article on an important session that Veralytic was able to attend.

Insurance Trust Monitor, Inc. (ITM) offers third-party administration (TPA) services to corporate and non-corpoate trustees of Irrevocable Life Insurance Trusts and is considered the industry’s premier ILIT administration and risk mitigation service.

Veralytic is simply the fastest, easiest, and most credible, comprehensive and cost-effective way to independently verify to clients and their advisors whether or not the pricing and performance of existing or proposed life insurance is in their best interest.  Only Veralytic is accepted for independent client representation, endorsed by the New York Bankers Association (NYBA) and compliant with industry regulations and established case law. 

Veralytic is the only patented, objective and rules-based research tool that goes beyond the overly-simplistic comparisons of illustrations of hypothetical policy values that can be considered “misleading” and “inappropriate” by both financial and insurance industry authorities. Veralytic’s independent research reports provide a facts-based solution that is both compliant with industry regulations and established case law.

Use the Veralytic Reports to determine the appropriateness of pricing, the reasonableness of performance expectations for invested assets underlying policy cash values, and overall suitability for your (client’s) policies based on the 5 factors of suitability. Click here and get up to 3 Veralytic research reports under our NO-Risk trial subscription.

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