TOLI Simplified

A Roadmap for Financial Advisors, Insureds and Trustees

  1. Process starts with a review of existing policy. Utilization of Insurance Trust Monitor (ITM) policy review services provides a thorough non-biased review. In-force ledgers are utilized to gauge projected performance of policy to reach expected goals.
  2. TOLI life insurance policy review provides a concise review of policy issues and challenges and gives a market analysis based on the best health information available on insured. It provides a starting point for discussing maximization of policy benefits and comes with listed action items designed to move the process along in an orderly fashion.
  3. Life insurance advisor and financial advisor review information and determine course of action based on facts and circumstances of the case.
  4. Depending on specific situation and desires of insured and trustee, insurance advisor and/or financial advisor reach out to client. Trust Questionnaire utilized to determine trust policy goals and suitability. Informal Health Questionnaire completed to determine current health status of insured.
  5. After gathering information from the TOLI Policy Review, Trust Questionnaire, and Informal Health Questionnaire, policy remediation options are reviewed.
  6. In most situations, remediation options are:

a. No change to policy. Policy performing adequately.

b. Restructuring of existing policy by either lowering death benefit or increasing funding.

c. Replacement of existing policy with a more suitable policy.

In every situation, all information leading to decision as well as memoralization of decision is provided to include in the trust file.

Notes

Advisor Insurance Resource makes no representation regarding the suitability of this concept or the product(s) for an individual nor is Advisor Insurance Resource providing tax or legal advice. You should consult your own tax, legal or other professional advisor before purchasing these products. To ensure compliance with requirements imposed by the IRS, we inform you that, unless expressly stated otherwise, any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein. Insurance Trust Monitor (ITM) is an outsourcer for TOLI Simplified that provides total administration services for life insurance trusts. ITM is not an Advisor Insurance Resource company.