TOLI Administration – ITM TwentyFirst

Take the TOLI Challenge: In a Permanent Life Insurance Policy, the Cost of the Policy is Equal to the Premium – Yes or No?

Take the TOLI Challenge: In a Permanent Life Insurance Policy, the Cost of the Policy is Equal to the Premium – Yes or No?

The answer is an emphatic NO. Some permanent life insurance policies, specifically guaranteed universal life (GUL) and Whole Life (WL), have required premiums, though WL out of pocket premiums can be reduced by dividends, paid-up addition cash values or policy loans. But the premium paid is not the actual cost of the policy and finding the underlying costs on the policies is a challenge. For [...]

ITM TwentyFirst2021-09-10T15:32:48-05:00September 10th, 2021|Current Assumption Universal Life, Equity Index Universal Life, General Interest, The TOLI Handbook, TOLI Administration, Whole Life|1 Comment

Take the TOLI Challenge: Can You Answer This?

Take the TOLI Challenge: Can You Answer This?

What steps should you take if a grantor says they want to surrender their policy? In the decade-plus that we have been managing life insurance for TOLI trustees, we have noticed that the weak link in their services usually is remediation. The inability to analyze policy options in changing situations is an area of future liability. Some trustees we have spoken with have surrendered policies [...]

ITM TwentyFirst2021-08-20T16:05:53-05:00August 20th, 2021|General Interest, The TOLI Handbook, TOLI Administration, What to Do With An Unwanted Life Insurance Policy?|0 Comments

Professional Designations: Training Your Staff Helps Your Team and Your Firm

Professional Designations: Training Your Staff Helps Your Team and Your Firm

Over the years, we at ITM TwentyFirst have been leaders in peer education. The TOLI Handbook, a free download available here as a PDF, provides industry peers with a single source guide for managing trust-owned life insurance (TOLI) trusts and policies. We have, over the years, provided hundreds of hours of professional CE for several professional designations. Our staff is encouraged and incentivized to seek [...]

ITM TwentyFirst2021-08-06T15:04:21-05:00August 6th, 2021|General Interest, The TOLI Handbook, TOLI Administration|1 Comment

Take the TOLI Challenge: Only Permanent Life Insurance Policies Can Be Sold, True or False?

Take the TOLI Challenge: Only Permanent Life Insurance Policies Can Be Sold, True or False?

Previously, we started the TOLI Challenge with the question: What is most important when determining the liability of a trustee’s actions? Click here for that answer. Today, we have a follow up true or false question. Only permanent life insurance policies can be sold in the life settlement market, True or False? It may surprise you that the answer is false – some term [...]

ITM TwentyFirst2021-07-30T11:54:56-05:00July 30th, 2021|Life Insurance Investments, Life Settlements, Policy Management, TOLI Administration, What to Do With An Unwanted Life Insurance Policy?|0 Comments

Trustee Alert: Managing Guaranteed Universal Life Policies

Trustee Alert: Managing Guaranteed Universal Life Policies

Guaranteed universal life takes the market risk out of life insurance, but it adds additional risks that sit squarely with the TOLI trustee. For all GUL policies you take in, you should understand all of the policy nuances

ITM TwentyFirst2021-07-09T15:36:53-05:00July 9th, 2021|No-Lapse Guarantee Universal Life, Policy Management, TOLI Administration|2 Comments

Take the TOLI Challenge: Can you answer this?

Take the TOLI Challenge: Can you answer this?

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, we thought we would “chunk it down” with the TOLI Challenge—a series of questions designed to test the knowledge of the typical TOLI trustee. We will be publishing questions [...]

ITM TwentyFirst2021-06-17T16:13:47-05:00June 17th, 2021|General Interest, Policy Management, The TOLI Handbook, TOLI Administration|0 Comments

Upcoming Webinar June 24th: Why Now Is the Time to Consider Alternatives for Your Irrevocable Life Insurance Trusts (ILITs)

Upcoming Webinar June 24th: Why Now Is the Time to Consider Alternatives for Your Irrevocable Life Insurance Trusts (ILITs)

Why Now Is the Time to Consider Alternatives for Your Irrevocable Life Insurance Trusts (ILITs) Presenters: Leon Wessels, Life Insurance Trust Company, John Barkhurst, ITM TwentyFirst For most institutions in 2021, life insurance trusts are not core to their trust business. With the regulatory, reputational, and legal risks ever increasing, many corporate trustees are currently rethinking their ILIT services, contemplating other alternatives. This webinar [...]

ITM TwentyFirst2021-05-27T15:52:26-05:00May 27th, 2021|General Interest, Policy Management, TOLI Administration, Webinar|0 Comments

Business Continuity – Unique Asset Management Reality Check

Business Continuity – Unique Asset Management Reality Check

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 [...]

ITM TwentyFirst2021-05-21T17:00:09-05:00May 21st, 2021|General Interest, Policy Management, TOLI Administration|0 Comments

Best Interest Standards for Life Insurance Would Be a TOLI Trustee’s Best Friend

Best Interest Standards for Life Insurance Would Be a TOLI Trustee’s Best Friend

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.

ITM TwentyFirst2021-04-30T01:35:20-05:00April 30th, 2021|Policy Management, The TOLI Handbook, TOLI Administration|0 Comments

TOLI Trustee Alert: Life Settlements – How to Sell a Policy

TOLI Trustee Alert: Life Settlements – How to Sell a Policy

In our last blog, we tackled the question of when to sell a life insurance policy. With past and potential future changes in the estate tax laws and the aging of the population in the typical TOLI portfolio, life settlements will become more prominent in the coming years. The TOLI trustee must become aware of the sales process, so we wanted to provide a [...]

ITM TwentyFirst2021-03-11T17:20:59-06:00March 11th, 2021|General Interest, Life Insurance Investments, Life Settlements, TOLI Administration, What to Do With An Unwanted Life Insurance Policy?|1 Comment