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.
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.
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.
In this step we survey product offerings, including term insurance. We conduct competitive analyses and make initial recommendations on product providers and strategies.
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.
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.
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.