LifeTrack™ is an independent life insurance policy review that meets regulatory compliance and fiduciary oversight requirements. The report is designed to identify and simplify all risk issues associated with life insurance and generates valuable management information.
Identifies performance issues that may put liability on the fiduciary prior to accepting a policy in trust. Delivered within 48 hours of receiving policy information.
Essential to protect the fiduciary on any policy where a replacement is proposed by the financial adviser and/or insurance agent. This detailed analysis compares the in-force policy and proposed replacement.
An in-depth review on contractual provisions and identifies performance issues of an annuity
For variable life policies and annuity contracts, an asset allocation analysis is important for fiduciaries to meet prudent investment standards. The analysis determines whether a policy's asset allocation is appropriate given a policy's or contract's underlying characteristics including time horizon and level of funding.
RIC offers ILIT Administration Software that centralizes, standardizes and streamlines all administrative activities. Efficiencies are gained, administrative risk is reduced, and overall productivity is improved through DataTrack™.
In addition to providing policy review services and ILIT Administration software, RIC’s team of life insurance experts can help Fiduciaries with any policy issue by providing customized solutions. For problematic policies, RIC commonly assists clients with:
Our entire focus is to provide risk management and administrative solutions for trustees and fiduciaries holding Trust Owned Life Insurance.We do not market or sell insurance at RIC.