Life Insurance Assessment

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This is a proven, objective system that ensures your client has the best possible life insurance solution in the market today.

Over 65% of assessed policies result in a recommended change to provide an optimal solution for the client. Fiduciary Duty Of 297 bankers, attorneys and accountants surveyed:

  • 83.5% – Have NO guidelines and procedures for handling trust-owned life insurance.
  • 95.3% – Have NO policy statements on how to handle life insurance investments.
  • 75.0% – A 1998 study of large portfolio of TOLI policies held by bank trustees found that in 75 percent of the policies more than 5 years old, the death benefit could have increased by 40 percent without and increase in premium outlays.
  • Trust & Estates, May 2003

Why is a Life Insurance Assessment necessary?

Insurance carriers have dramatically changed their processes and the medical technology used to assess and determine underwriting risk. This has created an opportunity for your client to be assessed more accurately to take advantage of these changes as well as any improvements they have made in their health and/or lifestyle.

An increase in life expectancies has resulted in the potential for the cost of your client’s policies to be too high.

The industry’s continuous development of new and innovative product solutions has resulted in many in-force contracts being outdated.

Reductions in interest crediting rates, dividend rates and/or variable life sub-accounts have caused many in-force contracts to under perform when compared to original projections. The policies are not performing to the clients expectations.

How does the Assessment process work?

  • A medical risk assessment of your client is performed to determine if the mortality charges they are being assessed are fair.
  • We negotiate underwriting on your client’s behalf to obtain the most competitive offer available.
  • A performance review of your client’s existing policy is conducted.
  • A review of the current product and planning tactics are used to determine if they are in alignment with your client’s goals and objectives. We ask, “Is there a product and/or planning strategy available that enables us to achieve the client’s goals more efficiently?”
  • An evaluation of the current insurance company’s financial stability and an objective review of the carrier’s financials is provided.
  • The combination of audit elements are then used to develop a recommendation to either maintain the current policy or move to a more optimal solution.

Case Study:

  • Universal Life policy issued in 1990
  • $1,000,000 level death benefit with a policy and cash surrender value of $317,309.
  • At the annual premium of $30,000, the policy death benefit was guaranteed to age 83, and projected to last to age 92.
  • Planning Goals – Guaranteed death benefit with minimal premium outlay for estate planning.

Underwriting and Risk Assessment generated a tentative offer of Standard Non-Smoker from 5 top rated carriers, that also had competitive product solutions.

Assessment Results:

  • New premium of $16,512 (a 45% annual savings)
  • Guaranteed death benefit for life
  • Achieves planning goals more effectively than current coverage.

Steps to Begin Assessment Process

  1. Gather in-force policy information:
    1. Client signs authorization to obtain current policy information
    2. Contact carrier to obtain/order in-force ledger(s) – Order “alternative scenarios” at this time
  2. Gather updated medical information:
    1. Client completes medical history using Brokerage Professional’s Preliminary Insurance Evaluation Form
    2. Brokerage Professional’s Authorization Form signed by client
    3. Contact doctor’s to obtain updated APS records
  3. Gather current financial & planning information:
    1. Determine the client’s current goals and/or objectives
    2. Indicate goals and/or objectives on checklist and cover page
  4. Submit in-force policy and updated medical information along with the Life Insurance Assessmentsm Checklist & Cover Page to:

Brokerage Professionals, Inc.
Attn: Life Assessment Team
7910 E. Thompson Peak Pkwhy
Suite #101
Scottsdale, AZ 85255


Assessment Task Who’s Accountable? How long does it take?
Insured completes preliminary inquiry form Agent 1 day
Insured signs the BPI Authorization Form Agent 1 day
Policy owner signs Authorization to Obtain Policy Information Agent 1 day
Request and gather in-force ledger(s) Varies (Agent, BPI or Policy Owner) 1 to 6 weeks
Collecting necessary physician statements BPI – Large cases (Greater Than $10K) Agent – All other cases 1 to 4 weeks
Negotiating Offers


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