THE ISSUE

Reactive Policy Management

Over time, unmonitored factors such as cost of insurance, premium timing fluctuations, and crediting rate adjustments can cause changes inside the contract which can lead to:

THE SOLUTION

PolicyGuardTM

PolicyGuardTM was created to ensure your life insurance contracts are actively managed each year so you have the timely policy information you need to make informed decision.

How PolicyGuardTM Works

PolicyGuard simplifies the complexities typically associated with on-going policy management by leveraging an intuitive and easy-to-use technology for better portfolio oversight and control.

INITIATES
INITIATES
1

INITIATES REQUEST

PolicyGuardTM  tracks policy anniversary dates and automatically requests contract documents each year from the carriers:

  • Initial request is sent 5 days after the policy’s anniversary date
  • If needed, two additional follow-up requests are sent in 14-day intervals
  • If the carrier has not provided the contract information after three requests, PolicyGuard™ will email you a notice
GATHERS
GATHERS
2

GATHERS DOCUMENTS

PolicyGuardTM archives received carrier documents one of three ways:

  • Direct upload
  • Proformex staff upload
  • User upload
MONITORS
MONITORS
3

MONITORS POLICIES

PolicyGuardTM simplifies the complexities of tracking policy performance by monitoring five key contract parameters:

  • Lapse Age – How long the coverage is projected to stay in force
  • Death Benefit – What is the amount of money projected to be paid out by the insurance carrier
  • Premium – What is the projected cost to keep the coverage in force
  • Crediting Rate – How is the policy performing compared to the projected internal crediting rate
  • Comdex – What is the insurance carrier rating as it relates to overall financial strength
ALERTS
ALERTS
4

PORTFOLIO ALERTS

PolicyGuardTM tracks overall policy performance and triggers the following consolidated alerts:

  • Lapse Alert – Identifies policies projected to lapse within the next five years
  • Term Alert – Identifies term policies with coverage periods projected to expire within the next two years
  • Conversion Alert – Identifies term policies with conversion periods projected to expire within the next two years
  • Settlement Alert – Identifies policies that fit the parameters for potential life settlement
  • Finance Alert – Identifies policies that fit the parameters for potential premium financing
REPORTS
REPORTS
5

POLICY REPORTS

PolicyGuardTM generates easy-to-understand, one-page reports that can be used alone or combined to provide an aggregated view:

  • The Performance Tracking Report – Performance tracking, product features, and performance settings
  • The Policy Details Report – Above plus contract details, policy values, and premium highlights
  • The Coverage Assessment Report – Above plus contract modifications, product alternatives, and a life settlement evaluation
ANALYSIS
ANALYSIS
6

PORTFOLIO ANALYSIS

PolicyGuardTM consolidates individual policy data to provide powerful insight and analytics:

  • All Policies
  • Reviewed Policies For The Quarter
  • All Reviewed Policies
  • Ownership Types
  • Carriers
  • Product Types
  • Policy Anniversaries
  • Insurance Agents
  • Premium Payments
  • Policy Beneficiaries
  • Trustees
  • Trust Beneficiaries
  • Premium Gifts
CONTROLS
CONTROLS
7

MANAGEMENT CONTROLS

PolicyGuardTM contains the tools and functionality for user-determined controls and management as follows:

  • Adjust policy tracking parameters
  • Access archived policy documents
  • Send the following alerts:
    • Document Uploaded, Performance Monitoring
      Change, Comdex Change, Report Ready
  • Send the following premium reminders:
    • 10, 45, and 90-day notices
  • Create and send gift reminders
  • Create and send Crummey notices
1

INITIATES REQUEST

PolicyGuardTM  tracks policy anniversary dates and automatically requests contract documents each year from the carriers:

  • Initial request is sent 5 days after the policy’s anniversary date
  • If needed, two additional follow-up requests are sent in 14-day intervals
  • If the carrier has not provided the contract information after three requests, PolicyGuard™ will email you a notice
2

GATHERS DOCUMENTS

PolicyGuardTM archives received carrier documents one of three ways:

  • Direct upload
  • Proformex staff upload
  • User upload
3

MONITORS POLICIES

PolicyGuardTM simplifies the complexities of tracking policy performance by monitoring five key contract parameters:

  • Lapse Age – How long the coverage is projected to stay in force
  • Death Benefit – What is the amount of money projected to be paid out by the insurance carrier
  • Premium – What is the projected cost to keep the coverage in force
  • Crediting Rate – How is the policy performing compared to the projected internal crediting rate
  • Comdex – What is the insurance carrier rating as it relates to overall financial strength
4

PORTFOLIO ALERTS

PolicyGuardTM tracks overall policy performance and triggers the following consolidated alerts:

  • Lapse Alert – Identifies policies projected to lapse within the next five years
  • Term Alert – Identifies term policies with coverage periods projected to expire within the next two years
  • Conversion Alert – Identifies term policies with conversion periods projected to expire within the next two years
  • Settlement Alert – Identifies policies that fit the parameters for potential life settlement
  • Finance Alert – Identifies policies that fit the parameters for potential premium financing
5

POLICY REPORTS

PolicyGuardTM generates easy-to-understand, one-page reports that can be used alone or combined to provide an aggregated view:

  • The Performance Tracking Report – Performance tracking, product features, and performance settings
  • The Policy Details Report – Above plus contract details, policy values, and premium highlights
  • The Coverage Assessment Report – Above plus contract modifications, product alternatives, and a life settlement evaluation
6

PORTFOLIO ANALYSIS

PolicyGuardTM consolidates individual policy data to provide powerful insight and analytics:

  • All Policies
  • Reviewed Policies For The Quarter
  • All Reviewed Policies
  • Ownership Types
  • Carriers
  • Product Types
  • Policy Anniversaries
  • Insurance Agents
  • Premium Payments
  • Policy Beneficiaries
  • Trustees
  • Trust Beneficiaries
  • Premium Gifts
7

MANAGEMENT CONTROLS

PolicyGuardTM contains the tools and functionality for user-determined controls and management as follows:

  • Adjust policy tracking parameters
  • Access archived policy documents
  • Send the following alerts:
    • Document Uploaded, Performance Monitoring
      Change, Comdex Change, Report Ready
  • Send the following premium reminders:
    • 10, 45, and 90-day notices
  • Create and send gift reminders
  • Create and send Crummey notices

PolicyGuard'sTM Impact on Your Business

PolicyGuardTM was designed to save you time and money by providing you a policy monitoring process to help ensure you are aware of how the policies in your care are performing each and every year.

1

# of Policies Under Management

CALCULATE IMPACT Please enter the total policies you currently have under management.

Policies Have Not Been Reviewed in the Past 5 Years

69

Policies Likely to Lapse in the Next 3–7 Years

20
2

Death Benefit Under Management

CALCULATE IMPACT Please enter the total death benefit amount you currently have under management.

Potential Lost Death Benefit

$13,800,000

Media/News/Awards

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The Best of the Best

Each PolicyGuardTM subscription provides access to a national database of top tier providers for life insurance, life settlement and premium financing services.

We Work With Only the Best Names in the Life Insurance Industry

our perspective

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Fiduciary Case Study

Case Study

Advisor Case Study

Case Study

The New Standard

Fiduciary’s Guide to
Proactive Policy Management

Owner Case Study

Case Study

Life Insurance

Bridging the Fiduciary Gap

Trustee Duties

Industry Alert

The New Standard

For Agents

The New Standard

For Fiduciaries

How PolicyGuard™ Works

The New Standard

Member Overview

Meet The PolicyGuard Team

The New Standard

For Owners