Services
Policy Review
Integris Legacy Solutions specializes in evaluating existing life insurance policies to ensure they align with our clients’ current needs, goals, and financial situation. More importantly, we stress-test these policies to gain an understanding of the policy’s return profile and whether the coverage will be in-force when it is most needed. These services are valuable for individuals who want to assess whether their coverage is performing as illustrated, cost-effective, and well-suited to their circumstances. Here is an overview of what our life insurance review services typically include:
Examine the details of your existing policy, including coverage amount, policy type, premiums, riders, and any cash value or investment components.
Stress-test your policy for future premium requirements based upon current policy performance.
Identify the rate of return required to keep your policy in force and whether that rate is viable based upon policy investment parameters.
Review the insurer’s current financial strength and rating.
Determine whether policy guarantees exist or are available.
Review current ownership and beneficiary designations relative to your goals.
Identify income, estate, or gift tax issues with respect to policy funding requirements.
Review and analyze the ownership structure of your policy for maximum tax and asset protection efficiency.
Policy Design
Whether for clients looking to acquire new insurance coverage or for those who, after a thorough evaluation of their existing coverage, wish to make improvements, Integris Legacy Solutions is dedicated to client education, transparency, and advocacy. We believe that it is essential for our clients to be well-informed and take a proactive role in the life insurance purchasing process and are convinced this approach will create the best financial outcomes. Some of the features of our policy design service include:
Ensure that the coverage you seek aligns with your financial, estate, or business plan.
Review whether the best option is to maintain current coverage or make adjustments to your existing coverage to improve policy performance.
Perform the requisite due diligence to understand your financial needs and corresponding cash flow restrictions.
Identify opportunities to reduce insurance costs while maintaining an appropriate level of coverage.
Negotiate and leverage competitive rates among the industry’s most financially strong and reputable carriers.
Utilize an “open architecture” approach to provide comparisons of different insurance products, policy designs, and carriers to help you make informed decisions.
Explain proposed insurance designs with a focus on assumed rates of returns and other investment-related features.
Determine policy ownership in conjunction with an estate or business plan to improve tax efficiency and asset protection.
Policy Maintenance
Ongoing review of permanent life insurance is critical to ensure the viability of an estate or business liquidity plan. Regrettably, this essential element of policy ownership is not stressed enough during the sales process and has unfortunately led to clients not realizing the importance of a regular maintenance program. Life agents, in addition, are not incented to provide this service, particularly when it might mean discussing poor policy performance with their clients. Consistently reviewing for potential shortfalls in performance or issues related to policy ownership or premium funding can lead to viable solutions which many times may require only minor adjustments. If ignored, however, even the most minor flaws can cause major headaches years into the future. Integris Legacy Solutions is committed to providing in-depth policy reviews for both our existing clients and those who already own a life insurance policy.
Conduct ongoing policy reviews on one-, three-, or five-year intervals (product dependent).
Reminders and assistance with timely premium payments.
Understand life changes that may impact the need or ability to fund your current policy.
Analyze policy performance, value, and pricing and make necessary adjustments to improve performance.
Assess whether your current health status may enable increased savings or coverage.
Determine whether superior products or product designs exist that better align with your goals and risk tolerance.