North Dade/South Broward Estate Planning Council



North Dade/South Broward Estate Planning CouncilOutline for April 24, 2013 PresentationPresentation: The Importance of Conducting Life Insurance Policy ReviewsEach section approximately 10 minutes for a total of 60 minutesWhy should you monitor the performance of permanent life insurance policies?Ensure that policies are not going to implodeFiduciary duty as trustee of irrevocable life insurance trust (ILIT)Should you be concerned about the impact of the low interest rate environment on policy performance and insurance company’s financial performance?Quick review of life insurance basicsPurpose of life insuranceTerm vs. permanent coverageRisk factors insurers use to price policiesIs the policy performing as expected?Request policy illustrations prepared under specific assumptionsHow does actual performance to date compare to projected performance when policy was sold to you?Evaluate the insurance carrier(s)Obtain and review insurance carrier’s credit reports from major ratings agenciesEvaluate insurance carrier’s financial strengthEvaluate insurance carrier’s economic efficiencyAdditional considerations Q&A ................
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