Our TOLI Services

TrustBuilder provides fee-based outsourced TOLI administration support services to professional trustees throughout the United States.  Our individual policy and portfolio management reports have been designed as objective factual information reports in accordance with the NAIC Producer Licensing Model Act and used by regulated professional trustees to perform their annual review of TOLI assets in compliance with 12 CFR §9.6 or 12 CFR §550 requirements.  

Trustees use our Policy Acceptance Report and Product Suitability - Performance Report  to support their pre-acceptance review requirements prior to acceptance of new and existing TOLI policies into trust.  Thereafter, our Annual Performance Review reports are used to annually monitor policy performance. 

Policy Acceptance and Evaluation Services  

Policy Acceptance Report :  Used by trustees to review a proposed new policy prior to trustee acceptance and to review an existing policy prior to successor trustee acceptance.  Includes an overview, policy projection and one benchmark comparative illustration to a similar product type policy available from a major (top 100) carrier. 

TrustBuilder guarantees a five day turnaround but reports are typically completed within two days.  If the policy is accepted, a policy installation form must be completed to commence annual Policy Management Services. 

Product Suitability – Performance Report :   Comprehensive policy report, often used by trustees prior to successor trustee acceptance and includes product suitability criteria specified by the trustee for the report.  Includes an overview, policy reprojection, and two benchmark comparative illustrations to a similar product type policy available from a major (top 100) carrier. 

Policy Management Alternatives Report :  Includes an overview of standard policy management alternatives for underperforming policies or policies that the trustee determines are no longer appropriate or meet trust objectives, current policy values and carrier prepared in-force illustration and reprojection(s).  If the policy is on TrustBuilder's Annual Review Program, the Policy Management Alternatives Report template will complement and expand upon the most recent annual report prepared by TrustBuilder.  Report continuity facilitates planning and communication with grantors, beneficiaries and their advisors. 

Policy Monitoring Services  

Annual Review Program  

Annual Performance Review - Benchmark Report :   Annual policy value reporting, in-force illustration, carrier ratings from 5 ratings agencies, assumed mortality projected policy values, and a benchmark comparative illustration to a universal life policy from an alternative carrier.  Benchmark illustrations are prepared by TrustBuilder staff in accordance with each trustee's TOLI risk management guidelines and benchmark illustration preparation criteria. 

Annual Performance Review – Actuarial Evaluation Report :  Similar to the Annual Performance Review except that a benchmark comparative illustration is not provided.  Instead, an actuarial benchmark model evaluation of premium adequacy and in-force illustration pricing assumptions is included.  This report is appropriate for non-guaranteed products such as universal life and variable universal life policies. 

Annual Performance Review - Benchmark & Actuarial Evaluation Report :  Annual Performance Review containing both benchmark and actuarial evaluation report components.  This report is appropriate for non-guaranteed products such as universal life and variable universal life policies. 

Annual Letter Report :  Similar to Annual Performance Review but does not include a benchmark illustration. 

Trust Account Report :  Supplemental condensed reports that can accompany our delivery of any performance review report listed above.  These reports are intended for trust client communication to grantors, beneficiaries and professional advisors.  Select from several base formats or we will custom design a format to compliment your annual trust client correspondence program. 

Portfolio Management Services  

Monthly Portfolio Reports:  

a.     Monthly Policy Listing :  Portfolio summary report of all policies including death benefit, policy classification code and report status.  

b.    Grantor Gift Notice Schedule :  List of all policies with gift notices dates within the next 45 days.  The default gift notice date is 45 days prior to the next scheduled premium due date (quarterly, semi-annual, annual). 

c.     Premium Due Date Schedule :  List of policies with scheduled premium payments during the next two months.  

d.    Production Status Report: Annual Policy Reviews :  List and status update of all policies in the report preparation cycle (begins 45 days prior to each policy’s anniversary date).  

e.    Completed Annual Reports : List of Annual Performance Reviews and Annual Letter Reports completed by TrustBuilder during the current month and mailed to clients.  Designed for internal auditors and managers responsible for compliance tracking. 

f.      Upcoming Scheduled Annual Reports :  List of Annual Performance Reviews and Annual Letter Reports scheduled to enter the annual review process during the upcoming month. 

Quarterly Portfolio Reports:  

a.     Portfolio Management Report :  Portfolio detailed report of all policies including last report type and date, next scheduled report type and date and policy classification code.  

b.    Carrier Selection Criteria Report :  Listing of all carriers and ratings meeting client’s selection criteria. 

Risk Management Portfolio Reports: 

a.     Portfolio Watch Report :  List of all policies where the last annual policy report indicated the policy was projected to lapse prior to or within five years after the insured’s assumed mortality or where information was insufficient to determine the lapse date. 

Trust View - Secure Client Website 

Clients have 24/7 access to our secure client website to monitor TrustBuilder’s outsourced administration support services, generate ad-hoc policy reports, portfolio reports and analysis graphs, and export data.