What We Do
The TOLI Center East – Overview
The TOLI Center East is a life insurance consulting firm specializing in Trust-Owned Life Insurance (TOLI) policies, as well as individually owned policies. Our clients are legal and tax advisors to policy owners of Irrevocable Life Insurance Trust (ILIT) trustees, grantors, and beneficiaries. A growing portion of our clientele comes from Family Office managers who lack life insurance product and policy evaluation expertise.
Life insurance is a ‘buy-and-manage’ financial asset typically purchased for a long term 20 to 50-year duration period. Life insurance carriers and their contracted sales agents provide the ‘buy’ function but the ‘manage’ function is missing unless the policy owner or trustee delegates this function to a qualified third-party provider. The TOLI Center East provides the missing policy performance evaluation and risk management services necessary to safeguard the interests of the policy owner from allowing the policy coverage to lapse prematurely.
I as the managing partner of The TOLI Center East help people better understand their life insurance coverage whether the person owns their own life insurance policy individually or through a trust. Whether the person is a CPA, an Attorney, or a Trustee of a Life Insurance trust. Most people are not familiar with their life insurance portfolio and incorrectly assume that their coverage will be there for the rest of their lives.
But because the majority of life insurance purchased over the last 25 years is not guaranteed and has significantly been affected by years of decreased interest rates and neglect, an increasing percentage of those policies are now expiring years earlier than anticipated.
Life insurance is no different from fixed income and equity investments, it requires attentive ongoing performance evaluation. While policy management should be considered at the time of policy purchase, proper evaluation services can be implemented at any time to avoid lapse and protect the policy’s death benefit purpose.
Most unskilled amateur ILIT trustees serve as an accommodation to the grantor. They are unaware of their fiduciary duties and lack both life insurance product expertise and credible policy evaluation capabilities. The TOLI Center East is engaged by the trustee and can communicate with the grantor’s legal and tax advisors to assure the TOLI policy (IES) are managed to maximize the probability of a favorable outcome to the trust beneficiaries.
Visit the link below to listen to an episode of the AuthorExpertWire Podcast featuring The TOLI Center East’s Managing Director Henry Montag. Henry joins host Annie Jennings to discuss the life insurance awareness and education he provides to his clients.
The TOLI Center East was formed in 2011 with the intent of accomplishing 2 objectives.
1. Provide continuing education credits to CPA’s and Attorney’s, along with published articles in professional journals. Advocating the importance of evaluating the performance of a client’s individually owned or Trust Owned Life Insurance.
2. Provide the individual owner or the amateur trustee, with information for them to make an informed decision as to whether their existing premium dollars are being used in the most efficient manner to maximize their existing life insurance portfolio.
Within a 5 year period in Dec 2016, a book containing much of our research and advice was published by the American Bar Association in a Flagship book titled “The Advisors’ and Trustees’ Guide to Managing Risk.”