The Life Insurance Confidence System®
is a distinct six-step process which helps assure we make the appropriate
decisions, based on the right information, and ultimately help achieve
the appropriate results for our clients.
Need Assessment
Our process begins with an assessment of the client’s
current and future need for insurance. We determine the unfunded personal
and corporate liability, and consider possible non-insurance alternatives
and their impact. Once the recommended amount of necessary insurance
is determined, we establish consensus amongst the advisors.
Concept Design
Next we use a detailed design questionnaire to
match the client’s needs with an insurance product type. We address
issues of ownership and beneficiaries, as well as the premiums and potential
means of payment. We’ll also ask some preliminary questions about
health and insurability and begin collecting physicians' statements.
Product Survey
In this step we survey product offerings, including
term insurance. We conduct competitive analyses and make initial recommendations
on product providers and strategies.
Underwriting Optimization
We then submit the client’s preliminary medical
and financial information to an independent medical team and open negotiations
with carriers to optimize a client's health classification. We review
all final offers from insurance carriers and present our recommendation
to our client and their advisory team for approval.
Policy Fulfillment
Based on the team’s approval, we complete
final applications and provide all parties with a copy of the policy
and insurance illustrations. If necessary, we’ll also prepare
and deliver a trustee assistance package.
Portfolio Administration
After the policy is written, we regularly review
it and test its effectiveness. This allows us to help ensure our clients’
insurance strategies stay in alignment with their goals and helps us
to proactively alert them to any changes or new market offerings that
are better suited for them based on their individual situation.
