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TrustBuilder has
been the industry standard since 1992 for cost-efficient outsourced administration support of
Trust-Owned Life Insurance (TOLI).
We provide a full range of support services
including portfolio administration, policy performance reporting, actuarial evaluation of non-guaranteed TOLI
policies and licensing of a customized ILIT management software platform for each client's confidential internal
management of ILIT accounts and TOLI policies.
Since 1992, we have prepared over
55,000 TOLI performance reports for corporate and personal trustees, private offices, accounting firms, law
firms and other estate planning professionals who lack experienced staff and systems to internally
administer TOLI and monitor TOLI performance consistent with legislative, regulatory compliance and internal risk
management guidelines.
TOLI Standard of Care Management
Only a fiduciary with investment discretion can
make TOLI risk management and suitability determinations to satisfy their legislative, legal and regulatory
compliance obligations. These determinations must:
Fiduciary law, regulatory guidance and legislation define the duties and
liabilities of fiduciaries and restrict the sharing of confidential and personally identifiable
information. Third-party vendors, life insurance agents/consultants and software providers take limited
scope direction from the fiduciary and lack the above requisite information to make these
determinations. More important, they have no duty or responsibility to make these
determinations.
Outsourced vendor performance monitoring
should
be restricted to credible "factual information" reporting of policy values, inforce and comparative illustrations,
carrier ratings, and actuarially certified benchmark modeling. Third party
determinations that policies are competitive or uncompetitive, high or low risk, etc. are subjective
determinations and not credible without access to the above requisite information and the appropriate
licensing to make such determinations.
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