Our TOLI Services

The TOLI Center provides independent and objective third-party reporting of trust-owned life insurance (TOLI) policies. Our clients are corporate and personal trustees, insurance trust beneficiaries, and professional advisors.   Our individual policy and portfolio management reports have been designed as "factual information" reports in accordance with the NAIC Producer Licensing Model Act in order for professional trustees to complete their annual review of TOLI assets consistent with 12 CFR § 9.6 requirements.

 Product Suitability Reports

The TOLI Center offers the following product suitability reports in support of a TOLI trustee's policy acceptance, remediation, and restructure criteria.

Policy Acceptance Report: Trustees use this report to review a proposed new and restructured policy prior to acceptance, and an existing policy prior to successor trustee acceptance.  This report includes an overview, TOLI suitability criteria evaluation, and carrier sales or in-force illustration.  An Actuarial Evaluation supplement is optional for nonguaranteed product types.

Policy Remediation Report:  Trustees use this report to review policy management alternatives for underperforming and/or unsuitable policies. The report includes an overview of remediation alternatives, in-force policy value summary, in-force illustration and reprojection calculating the premium necessary to sustain the policy to contract maturity, and carrier ratings from 5 ratings agencies.  Depending on trust objectives and insured age/health, this report can include a life settlement estimate.  An Actuarial Evaluation supplement is optional for nonguaranteed product types.

Depending on product type, policy suitability reports can be customized to include:

Actuarial Evaluation Supplement: This optional report supplement is appropriate for indeterminate “flexible” premium non-guaranteed products such as universal life and variable universal life. The report supplement includes an actuarially-certified evaluation of premium adequacy and in-force illustration pricing assumptions.

Actuarial Evaluation Report:  This stand-alone actuarial Policy Evaluation Report is is available to clients and non-clients, including trustees, corporate policy owners and individual policy owners. This report is appropriate for nonguaranteed universal life and variable universal life policies and includes an actuarial benchmark model evaluation of premium adequacy.

Annual Policy Management Report Services

A product suitability determination by the trustee is implicit with each premium payment and should consider policy management options, riders and annual policy performance.

Annual Performance Review: This base report serves and the foundation report for all product types.  It is appropriate for guaranteed products and includes an overview, assessment of risk management criteria, policy value summary, in-force illustration, projected policy values at the insured’s assumed mortality, and carrier ratings.

Depending on product type, policy management reports are customized to include:

Actuarial Evaluation:  This policy management report supplement is appropriate for indeterminate “flexible” premium non-guaranteed products such as universal life and variable universal life. The report supplement includes an actuarially-certified evaluation of premium adequacy and in-force illustration pricing assumptions.

Comparative Illustration:  A comparative illustration to a universal life policy from an alternative carrier is optional.  Comparative illustrations are prepared in accordance with each trustee's risk management guidelines and comparative illustration criteria and are intended for general industry awareness purposes, not for performance evaluation purposes.

Trust Account Report:  Condensed supplemental reports that can be prepared and accompany our comprehensive Annual Performance Review reports.  These supplemental reports are intended for trustee communication to grantors, beneficiaries and professional advisors.  Select from several base two page or four page formats or we will custom design a format to compliment your annual trust client correspondence.

Policy Data Record Keeping:  Maintain policy on the TOLI Center system for inclusion in Portfolio and Carrier Rating Reports and secure client website.  This service is generally limited to policies with face amounts under $50,000 where professional trustees internally monitor performance.

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/Crummey Letter Schedule:  List of policies with anniversary dates within 45 of any date during the upcoming month. 

c.  Premium Due Date Schedule:  List of policies with scheduled premium payments during the upcoming month. 

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 completed by The TOLI Center 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 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:  Detailed 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.

Electronic Reports:  24/7 access to our secure client website to monitor TOLI portfolios and the TOLI Center’s outsourced services.

Policy Installation:  Entry of policy information on the The TOLI Center system is required for all services.  If a new policy is added to the system as a result of a Policy Acceptance Report, the policy installation charge is waived.

TOLI Consulting:  We can assist in the development of TOLI administration guidelines and procedures and TOLI portfolio management strategies.

Carrier Monitoring Service

Carrier Rating Reviews:  Periodic quarterly, semi-annual, or annual summary of “secure” and “vulnerable” life insurance carriers as well as a statistical TOLI liability analysis based upon each client’s  carrier selection criteria provided to  The TOLI Center  .

Carrier Financial Information:  Supplemental carrier financial information and key operating ratios.

Action Alerts:  Informational  report of carrier or industry issues including rating downgrades, insolvency and rehabilitation alerts along with a report listing which policies in The TOLI Center's system are affected.