TRUST OWNED LIFE INSURANCE SOLUTION
We help hundreds of banks, trust companies and other fiduciaries manage their ILITs and mitigate regulatory risk and fiduciary liability.
MANAGED SOLUTION – ILIT Administration
ITM TwentyFirst provides an ILIT administration solution for life insurance trust and policy administration.
It takes a team of trust administrators, insurance experts, and underwriters to effectively manage ILITs. When using our fully managed solution, you remain trustee but our team of professionals handles the ILIT administration. Our insurance experts and underwriters review and manage the policies for optimal performance and remediate troubled policies by working with the trustee and the grantor, while our experienced trust administrators handle the day-to-day administration of the trust.
This solution allows clients to reduce the cost of administering trusts and managing policies and assists the trustee in meeting the needs of grantors and beneficiaries.
Notify grantors when premiums are due and handle Crummey notices to beneficiaries.
Ensure premiums are paid and policy is in good standing.
Provide options for troubled policies and document appropriately to mitigate liability
Analyze new or replacement policies for risk prior to acceptance. Annually review all policies for performance issues.
Trust Management Reporting
Comprehensive reporting supporting all trust activities; simplifies internal and regulatory audits.
Customized Client Communications
All grantor and beneficiary communications are customized with client branding.