TRUST ASSET CONSULTANTS | 1121 Olivette Executive Parkway, Ste 200 | St. Louis, MO| 63132
Trust Asset Consultants
Delegation Most prospective life insurance policy owners, trustees, attorneys and tax professionals lack life insurance product suitability and policy evaluation expertise. Using ILIT trustees as an example, the Duty to Delegate facilitates and promotes arrangements with third-party providers so that the requisite expertise is obtained and a reasoned decision-making process is documented.   The same life insurance suitability counseling and management delegation guidance should be considered by individual, family and business policy owners as well as their professional advisors to assure unbiased carrier and product selection mindful of the planning purpose, longevity expectation and insured’s medical history.  Further, sales agents and issuing carriers do not provide dispute defensible policy-specific performance monitoring and risk management services. This responsibility resides solely with the policy owner.     Delegation should be undertaken with a clear understanding of the services needed and the dispute defensible standards by which to evaluate third-party providers. Further, the scope of a provider’s services should be annually updated by the provider in the form of a certification letter. TAC offers clients ‘single source’ counseling access to ‘best practices’ life insurance risk management solutions.