As a decade plus provider of services to the TOLI marketplace, ITM TwentyFirst has developed a reputation as the expert in the trust owned life insurance arena. A pioneer in the field with the introduction of a web based administration portal for TOLI trusts in 2002, ITM TwentyFirst became the first company to offer total outsourced TOLI administration and policy management in 2007. In 2017 its affiliated entity, Life Insurance Trust Company became the first trust company in the United states to focus exclusively on life insurance, offering trust companies the opportunity to off load the asset to a firm that would not compete in other areas.
Over the last year ITM TwentyFirst has developed a handbook for TOLI trustees and advisors dealing with life insurance, especially in a fiduciary capacity. The 17-chapter book was developed and written by in-house specialists to provide internal education for staff, but was adapted and is being released to the public as a free downloadable manual. ITM TwentyFirst has always championed peer education developing a robust internal program for team members, as well as ITM TwentyFirst University that offers free CE for the industry. The company blog has provided timely industry insight for almost 6 years.
The handbook is a practical reference guide for those who are aware of life insurance, but not necessarily expert. It provides an overview of the responsibilities of a TOLI trustee and the guidance to live up to them.
The TOLI Handbook includes many actual cases studies and anecdotes drawn from the day to day work of ITM TwentyFirst team members. It is being published as a live document and is expected that it will be updated periodically as it adapts to the changing marketplace and industry. We believe that it presently represents the best single source of information available for managing TOLI trusts and life insurance. To receive a free copy of the TOLI Handbook, go to http://www.tolihandbook.com./
The TOLI Handbook Chapter Listing:
Chapter 1 – The Irrevocable Life Insurance Trust (ILIT)
Chapter 2 – The Responsibilities of a TOLI Trustee and Some Guidance
Chapter 3 – Developing a TOLI Administration System
Chapter 4 – An Introduction to Life Insurance
Chapter 5 – Whole Life Insurance – A Closer Look
Chapter 6 – The Mechanics of the Universal Life Chassis
Chapter 7 – Current Assumption Universal Life – A Closer Look
Chapter 8 – Guaranteed Universal Life – A Closer Look
Chapter 9 – Variable Universal Life – A Closer Look
Chapter 10 – Equity Index Universal Life – A Closer Look
Chapter 11 – Why Did the Cost of Insurance Increase in My Policy?
Chapter 12 – Selecting the Best Policy
Chapter 13 – Taxation of Life Insurance
Chapter 14 – Understanding Life Settlements
Chapter 15 – Understanding Life Expectancy Reports
Chapter 16 – Policy Remediation
Chapter 17 – Closing Thoughts