For most corporate and professional trustees, the life insurance trust and policy administration landscape has changed drastically in recent months. As a trustee, are you confident that your life insurance trusts are being managed properly in light of business continuity plans and work from home models? This webinar will highlight the things you should be focused on right now to manage trust owned life [...]
In this post, we look at whether COVID-19 has had an impact on the number of obituaries being reported, as they are a critical source of death data. Note that the charts in this post are interactive. PBI Research Services , a subsidiary of Longevity Holdings LLC , is a national leader in death auditing and mortality tracking. Their mortality data is captured from [...]
ITM University is back! Over the years, ITM TwentyFirst University has provided continuing education to thousands of Trustees, Fiduciaries, and Wealth Advisors. It is now back with a new slate of webinars providing relevant information you can use right now. The course topics will include real life case studies that can be applied to day to day situations. Subject matter is designed to help [...]
Updated 4/9/2020, Originally Posted 2/19/2019 What is most important when determining the liability of a trustee’s actions? Over the years, we have noticed that the knowledge of TOLI trustees varies from trust company to trust company. After publishing the TOLI Handbook in 2018, we thought we would “chunk it down” with the TOLI Challenge—a series of questions designed to test the knowledge of the typical [...]
It is now widely accepted that COVID-19 (Coronavirus Disease 2019) will have a broad, lasting impact around the globe, and in the U.S. in particular. The magnitude of that impact is still unknown, but that there will be a measurable impact has become indisputable. The life settlements population represents a unique cohort of individuals who may experience greater vulnerability to COVID-19 than the broader [...]
Millions of businesses worldwide have drafted or purchased business continuity plans, some have even practiced or simulated implementation of said plans, but few ever dreamed a worldwide pandemic would force these plans into action. The rapid spread of the Covid-19 virus has impacted all of humanity, including thousands of businesses which include fiduciary services. For those who serve as a fiduciary or provide fiduciary support [...]
Updated 3/12/2020, Originally posted 2/5/19 A little over five years ago we wrote about a little-known problem for trust-owned life insurance (TOLI) trustees - clients living to age 100 - the maturity age for many older life insurance policies. The problem is that many policies in their portfolio will not pay out a full death benefit at maturity and the chances of insureds living to [...]
Updated 3/5/2020, Originally posted 1/2019 Dividends are a return of premium when carrier results exceed a very conservative projection for investments, income, and expenses. Dividends are paid annually on participating whole life insurance and determined at the discretion of the board of directors. They are paid in addition to the guaranteed cash values in the policy, but the dividends themselves are not guaranteed and will [...]
As a TOLI trustee, you have a fiduciary responsibility to ensure that every transaction - either a new policy sale or replacement is not only suitable for your client, but also in your client’s best interest.
Updated 2/19/2020 Originally posted 12/11/2018 An online survey about life insurance found that 33% of life insurance policy owners do not understand how their policy works. (1) I suspect that this number is probably low. Perhaps the other 67% think they know how it works, but I imagine they could get a refresher lesson. Even if a policy owner does understand how it works, do [...]
