Online Access Agreement

 

This Online Access Agreement (“Agreement”) governs your use of the Life Insurance Trust Company, LLC (“LITC”) Online Access Portal accessible via LITC’s website at https://lifeinsurancetrustco.com/ (“Website”) and the Website.

Please read this Agreement carefully.  By selecting “I Agree” below, or by using the Service or authorizing a person to use the Service on your behalf, you agree to the terms and conditions of this entire Agreement.

1. Definitions

We, Us, Our, and LITC:  LITC and any of its agents or employees.

You or Your:  Each Grantor of an Eligible Account, an Eligible Beneficiary, or a Delegate or Authorized Representative.

Authorized Representative:  A person to whom the Grantor or an Eligible Beneficiary has granted actual, written authority to take action or make decisions with respect to an Eligible Account or an Online Financial Service. This definition includes any person (i) who has actual or apparent authority to access, manage, administer, or transact business for an Eligible Account or an Online Financial Service, or (ii) who is a Delegate.

Delegate:  Authorized Representatives appointed using the Delegate Tools.

Delegate Tools:  Access management tools we provide that help you manage the authority and access for some of your Authorized Representatives. Delegate Tools let you limit or control the access that certain Authorized Representatives will have and/or tasks they can perform with an Eligible Account or Online Financial Service.

Eligible Account:  Each Trust Account that is accessible through the Website.

Eligible Beneficiary:  A person, who, pursuant to the governing document of a Trust Account or the law governing the administration of such Trust Account, is entitled to receive information related to a Trust Account, as determined by LITC.

Mobile Device:  A cell phone, smartphone, tablet, or any other handheld or wearable communication device satisfying the hardware and software requirements we specify.

Online Access Portal:  The term Online Access Portal means the portal LITC provides to you on its Website to access any Eligible Account or Online Financial Service.

Online Financial Service:  The term Online Financial Service includes:

  • Information you may access and each service you may enroll in through the Website, including the Online Access Portal.
  • Actions you take, and instructions you give us, through the Website and Online Access Portal with respect to the Eligible Accounts.

Service:  All LITC online services including the Online Access Portal, plus all the Eligible Accounts and Online Financial Services you can access via the Website after entering into this Agreement.

Trust Account:  The trust account for which LITC is serving as trustee, and for which you are the Grantor, Eligible Beneficiary or Authorized Representative with respect to.

Website:  The term Website includes all LITC online services and all other web pages maintained by us and accessible through https://lifeinsurancetrustco.com/, and any other LITC website or web pages you can access only after you or an Authorized Representative enter into this Agreement.

2. The Service

2(a) Description:  Under the terms and conditions of this Agreement, you may use the Service to access your Eligible Accounts, obtain Online Financial Services, and perform authorized transactions through the Website. For your Eligible Accounts, transactions available to you may include obtaining balance information, transaction history, premium dates, and other information. While LITC will make best efforts to update the Website and information related to the Eligible Account, such updates may not be immediately reflected on the Website. Accordingly, the information retrieved from the Website should be verified with direct correspondence with LITC.

2(b) Grantors, Eligible Beneficiaries, Authorized Representatives, and Delegates:  Each Grantor, Eligible Beneficiary, Authorized Representative, and Delegate of an Eligible Account, will need to individually enroll in the Service to access information related to a Trust Account, and will each need a unique password and username.

We may offer Delegate Tools (online or otherwise) that help you manage the authority and access of the Eligible Beneficiaries, Authorized Representatives and Delegates you appoint. Some Delegate features may not be available for certain accounts or customers. Additional features include:

  • Grantors and Eligible Beneficiaries of Eligible Accounts may use the Delegate Tools to name a Delegate;
  • Delegates who are Authorized Representatives may also have authority in addition to that established using the Delegate Tools;
  • View Only – Guest users and authorized users may have access to an Eligible Account or Online Financial Service, but only to view balance and transaction information and other non-transactional capabilities as permitted by the Service. If Delegate Tools are used by you to grant a guest user or authorized user with a username, password or other login credential to access an Online Financial Service, you understand that you are responsible for any actions taken using your, your guest user, or authorized user’s username and password; and
  • View and Transact – Authorized Representatives may have access to an Eligible Account or Online Financial Service, and may engage in and authorize specified transactions permitted by the Service.

You agree that you may only appoint Delegates in accordance with the requirements we provide to you as well as any applicable requirements under any trust agreement. This provision takes precedence over any conflicting provision in any other agreement you have with us. We may discontinue offering Delegate options or permitting Delegates to access your Eligible Account or Online Financial Services at any time, without prior notice.

An Authorized Representative or Delegate’s transactions are considered authorized, unless (1) you tell us that they are no longer authorized as an Authorized Representative or Delegate, and (2) we have had reasonable opportunity to act on your notification (unless otherwise provided by law or regulation).

A Delegate’s authority will end when we have a reasonable opportunity to act on any of the following:

  • You or an Authorized Representative lets us know that the Delegate’s authority has ended and requests that the Delegate be removed.
  • You let us know that the Delegate is no longer a Delegate with respect to the Eligible Account and requests that the Delegate be removed.
  • If you have directed that your Delegate’s authority is to end upon your death, when we get written notice of your death/incapacity from a reliable source such as a court.
  • The Delegate is no longer enrolled in the Service as a Delegate.

You can also call 1-888-320-9594 or the phone number located on your statement for assistance in managing your Delegate access. If you made a Delegate appointment through another area, you may need to follow the process for terminating the Delegate appointment through that same area to ensure all required actions are completed.

2(c) Summary of Acknowledgements: You agree that:

  • Each of your Authorized Representatives and Delegates will be acting as your agent and will be bound by this Agreement and any separate agreement governing the Eligible Account or Online Financial Service.
  • We may rely and act on the instructions of any Authorized Representative or Delegate.
  • All transactions or activities that an Authorized Representative or Delegate performs on or takes with respect to an Eligible Account or Online Financial Service, including those you did not want or intend, are transactions authorized by you. You are solely responsible for those transactions.
  • You are solely responsible for supervising all of your Authorized Representatives and Delegates, and monitoring the actions they take on your behalf, whether or not we provide Delegate Tools for managing their authority.
  • You will be responsible for ensuring each Authorized Representative or Delegate maintains the confidentiality of that person’s username, password or other login identification, as well as the information and materials accessed and/or retrieved from the Website.
  • Each Delegate will access and use each Eligible Account and Online Financial Service, in accordance with the authority given to the Delegate by you or an Authorized Representative.
  • Each time the Delegate accesses, views or transacts on an Eligible Account or Online Financial Service, you represent and warrant to us that you authorize the Delegate’s action.
  • If we get conflicting instructions, if we believe that an Eligible Account’s security or our security may be at risk as a result of a Delegate, or if the Delegate violates any part of this Agreement, we may at our sole discretion end the Delegate’s access.

We may also prevent the individual from being a Delegate, or discontinue the individual’s Delegate authority, without prior notice to you.

3. Access

3(a) Accessing Eligible Accounts and Online Financial Services:  You authorize LITC to provide access to your Eligible Accounts and Online Financial Services through the Service. You may access your Eligible Accounts and Online Financial Services through the Online Access Portal to obtain information and perform transactions authorized on the Online Access Portal.

To access your Eligible Accounts and Online Financial Services through the Online Access Portal, you need a username, a password and required hardware and software. To complete your enrollment in the Service, you will be required to validate your email address. Additionally, you are required to maintain an email address that is continuously operational to receive email communications from us in order to continue to access your Eligible Accounts and Online Financial Services through the Website. You must provide all computer, telephone and other equipment, software (other than any software provided by us) and services you need to access the Service. You also have to comply with any other security procedures we may establish.

⁠3(b) Granting Permissions:  Once you enroll for the Service, you can grant permission to your Delegate or Authorized Representative to access and view your Eligible Accounts.

3(c) Availability and Unavailability of Service:  Subject to the terms of this Agreement, you’ll generally be able to access your Eligible Accounts and Online Financial Services through the Online Access Portal 7 days a week, 24 hours a day.

Sometimes the Service may be unavailable due to system maintenance or circumstances beyond our control. During these times, you may be able to call LITC at 1-888-320-9594 to obtain information about your Eligible Accounts.

3(d) Terminating Online Access:  This Agreement will be in effect from the date we accept your enrollment in the Service and at all times while you’re using the Service or any Online Financial Service.

Unless otherwise required by applicable law or regulation, either of us can terminate this Agreement and/or your access to any Eligible Account or Online Financial Service through the Service, in whole or in part, at any time. For example, we may terminate your access to the Services due to inactivity, at any time. We will try to notify you in advance of any termination but are not required to do so.

We also may terminate or modify access upon proper notification of death.

If you violate any terms of this Agreement or any other agreement you have with us, you agree that we may suspend or terminate your access to any of your Eligible Accounts and Online Financial Services. We are not required to reinstate or re-activate your access.

If your Eligible Account is terminated, or you terminate your Online Financial Services, we may suspend or terminate your access without prior notification. We are not required to reinstate or re-activate your access. If reinstated, the then-current terms of this Agreement will control.

If you want to remove online access for an Eligible Account for a Delegate or Authorized Representative, you can do so through the Service or call LITC at 1-888-320-9594.

4. Online Statements and Documents: Many account documents – including statements and tax documents – can be delivered online for certain Eligible Accounts and Online Financial Services. You have the option to view, save, or print PDF versions of your account documents from the Website via desktop, tablet, or mobile device. Notwithstanding the foregoing, you agree that any use of such documents is subject to the provisions set forth in and may be limited by the Trust Agreement applicable to the Eligible Account.

Any disclosures about your Eligible Account or Online Financial Service that would normally accompany your paper account statement, or that we would mail to you, may be delivered to you electronically. In some cases, we must continue to mail paper statements, legal notices, and disclosures even if you elect to receive them electronically. We are not responsible for statement non-delivery if you do not maintain a valid email address as described in Section 7.

By requesting that bills, statements, or other communications from us be sent to you electronically, you warrant that you have the right, power, and authority to receive them electronically.

We may offer you additional options/preferences for delivery of various communications related to your Eligible Accounts or Online Financial Services. We may add to, modify, or delete any feature of online statements and documents at our sole discretion.

5. Third-Party Software and Content

5(a) Description:  We may offer third-party software tools and products (“Third-Party Software”) that you can install on your computer. You are responsible for obtaining a valid and separate license agreement with the provider of the Third-Party Software.

We may also offer information, commentary, and tools supplied by third parties (“Third-Party Content”). Third-Party Content on the Website is labeled as such, and may be available either in a frame, via a hyperlink, or simply posted to the Website. We don’t own any interest in, edit, review or endorse any Third-Party Content.

5(b) Disclaimers and Acknowledgements:  You understand and agree that:

  • Any Third-Party Software you download is provided to you “as is” and “as available.”
  • Any Third-Party Content you review, or use is provided to you “as is.”
  • We won’t be liable to you for:
    • Your inability to access or use the Third-Party Software.
    • The accuracy, timeliness, loss or corruption, or misdelivery of any Eligible Account information or any other information processed by the Third-Party Software.
    • Unauthorized access to your Eligible Accounts or to your account information and any misappropriation, or alteration, of your account information or data as a result of your installation or use of the Third-Party Software, except as otherwise provided by law or regulation.
    • You assume all risk that unauthorized third parties may access any Third-Party Software you download and install, or any information you enter into the Third-Party Software.
    • If you use the Third-Party Software to transmit information, you and the Third-Party Software provider are responsible for the security and confidentiality of that information.
    • Any Third-Party Software downloads are your own risk, and you alone are responsible for any resulting damage to the computer or other electronic device, as well as for any loss or corruption of data that might occur as a result.
    • You are solely responsible for acquiring and maintaining a computer or other electronic device that can handle and access the Third-Party Software, including any necessary equipment such as a modem, and that you’re responsible for all costs associated with accessing the Third-Party Software.

You further agree that we make no warranties and have no liability as to:

  • The accuracy, completeness, availability or timeliness of the information, text, graphics, or other items provided, stored, evaluated or processed through the Third-Party Software or Third-Party Content;
  • Any errors or omissions in the delivery or transmission of the Third-Party Software or Third-Party Content from us to you (and “you” includes delivery to your Financial Management Software and/or your computer); and
  • The Third-Party Software’s or Third-Party Content’s fitness for a particular purpose and non-infringement of any third-party rights.

6. Security

6(a) Description:  You need a username and password to access your Eligible Accounts and Online Financial Services through the Service. We may set standards for your username and password. We recommend that you change your password regularly and select a unique username and password combination for use only with the Service.

We may also require additional security procedures for certain activities. These additional security procedures may require special hardware, software or third-party services. To enhance the security of your Eligible Accounts and Online Financial Services, we may also offer you additional, optional security procedures. These could include personal reference questions and answers, random number generators, or one-time passwords.

We may also require the use or activation of specific applications, Internet browser software features, plug-ins and add-ons, to use the Service. These could include JavaScript support and “cookies.”

To enable and enhance secure access to the Service, we may also access detailed information about the computers and mobile devices you use to access the Service. This could include telephone numbers and unique internal and network identifiers for your computers and mobile devices. We also use cookies and other technology for information security and other purposes.

6(b) Protecting Your Security:  Even though information exchanged through the Service is protected by advanced encryption techniques while being transmitted, you still need to protect your username and password for the Service.

You must notify us immediately if you suspect fraudulent activity on your Eligible Account or if you believe that:

  • Your password may have been lost or stolen.
  • A Mobile Device you use to access the Service has been lost, stolen or compromised.
  • Someone viewed, downloaded or deleted electronic records from your Eligible Account or Online Financial Service without your permission.

To notify us:  Call 1-888-320-9594 during our normal business hours; or write to us at:

Life Insurance Trust Company
C/O ITM TwentyFirst
PO Box 587
Cedar Falls, IA 50613

In the event of unauthorized use of your username and password, or any other security or authentication technique we use, you may be liable for resulting losses, to the extent permitted by law or regulation.

7. Additional Responsibilities: You agree that:

  • You are responsible for actions taken by anyone using the Service after signing in with your username and password, except as otherwise provided by law or regulation. We are entitled to rely and act upon instructions received under your username and password.
  • You are responsible for keeping your username and password confidential.
  • You are responsible for ensuring that you have signed off from the Service when your session is complete to prevent unauthorized persons from using the Service.
  • You are responsible for ensuring your computer operating system, software, browser version, plug-ins and anti-virus software are all current and up-to-date.
  • You are responsible for ensuring that you have a valid email address and phone number at all times.
  • You will be the only user of your username and password, and that you won’t transfer or disclose any of this information to any other person.
  • You will immediately notify us at 1-888-320-9594 or the phone number located on your statement to report any actual or suspected unauthorized use of your username or password.
  • You will provide true, accurate, current and complete information about yourself as requested.
  • You will not misrepresent your identity.
  • You will not use the Service for unlawful purposes, or purposes that are not permitted expressly or implicitly, by the terms of this Agreement or by any applicable law or regulation.
  • You will comply with all rules, policies and procedures of networks through which you access and use the Service.
  • You will not use the Service in a way that disrupts, damages, disables, overburdens, interferes, or impairs the Service, the networks through which you access or use the Service, or with any other party’s use of the Service.
  • You will not access or attempt to access any Service account for which you have no access authorization, or duplicate, modify, distribute or display any of the data or files from any such account.
  • You will be responsible for and provide all computer, telephone, and other equipment, software (other than any software provided by us) and services necessary to access the Service.
  • You will not obtain or attempt to obtain any materials or information through any means not intentionally made available or provided for through the Service.

8. Disclaimer of Warranties

8(a) Disclaimer of Warranties:  LITC MAKES NO REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE SERVICE OR ITS CONTENT, OR ANY PRODUCT OR SERVICE AVAILABLE ON OR PROMOTED THROUGH THE WEBSITE.  THE SERVICE AND ALL OF ITS CONTENT ARE PROVIDED FOR USE ON AN “AS IS” BASIS.  YOUR USE OF THE SERVICE, ITS CONTENT, AND ANY SERVICE OR ITEMS OBTAINED THROUGH THE SERVICE IS AT YOUR OWN RISK.  LITC EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, ARISING BY STATUTE, CUSTOM, COURSE OF DEALING, COURSE OF PERFORMANCE OR IN ANY OTHER WAY, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

LITC DOES NOT REPRESENT OR WARRANT THAT THE SERVICE, ITS SERVERS, OR ANY TRANSMISSIONS SENT FROM US OR THROUGH THIS SITE WILL BE FREE OF ANY HARMFUL COMPONENTS, INCLUDING VIRUSES.  LITC MAKES NO REPRESENTATIONS OR WARRANTIES AS TO WHETHER THE INFORMATION ACCESSIBLE VIA THIS WEBSITE, OR ANY WEBSITE WHICH IS LINKED, IS ACCURATE, COMPLETE, OR CURRENT.  LITC IS NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS IN ANY CONTENT APPEARING ON THIS SERVICE.

TO THE FULLEST EXTENT ALLOWED BY LAW, LITC WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY A DISTRIBUTED DENIAL OF SERVICE ATTACK, VIRUSES, OR OTHER TECHNOLOGICALLY HARMFUL MATERIAL THAT MAY INFECT YOUR COMPUTER EQUIPMENT, COMPUTER PROGRAMS, DATA, OR OTHER PROPRIETARY MATERIAL DUE TO YOUR USE OF THE WEBSITE OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE, OR TO YOUR DOWNLOADING OF ANY MATERIAL POSTED ON OR LINKED TO THE WEBSITE.

8(b) Limits on Liability and Obligation:  LITC and its officers, directors, shareholders, parents, affiliates, agents, licensors, or third-party service providers are not liable for any:

  • Consequential (including loss of data, files, profit or goodwill or the costs of procurement of substitute goods or service) damages.
  • Indirect damages.
  • Incidental damages.
  • Special damages.
  • Punitive damages.

This is true whether these damages occur in an action under contract, or from negligence or any other theory, arising out of, or in connection with, this Agreement, the Service, or the inability to use the Service.

In addition to reasons such as scheduled system maintenance, damages could arise from circumstances beyond our control, even if we advise you of the possibility of such damages. These circumstances could include: power outages, system failures, fires, floods, natural disasters, extreme weather, cyber-attacks, including Denial of Service (DoS).  LITC won’t be liable for any failure of availability or performance due to scheduled system maintenance or circumstances beyond our control (such as power outage, computer virus, system failure, fire, flood, earthquake, or extreme weather).

We won’t be obligated to honor, in whole or in part, any transaction or instruction that:

  • Is not in accordance with any term or condition of this Agreement or any other agreement that applies to the relevant Online Financial Service or Eligible Account.
  • We have reason to believe may not be authorized by you or any other person whose authorization we believe necessary.
  • We have reason to believe involves funds or other property subject to a hold, dispute, restriction or legal process we believe prevents the transaction or instruction.
  • Would violate any applicable provision of any risk control program of the Federal Reserve, the Office of the Comptroller of the Currency, or any applicable rule or regulation of any other federal or state regulatory authority.
  • Is not in accordance with any other requirement of our policies, procedures or practices.
  • We have other reasonable cause not to honor for our or your protection.

8(c) Indemnification:  Except where we’re liable under the terms of this Agreement or another agreement governing the applicable Eligible Account or Online Financial Service, you agree to indemnify, defend, and hold us, our affiliates, officers, directors, employees, consultants, agents, service providers, and licensors, harmless from any and all third-party claims, liability, damages, obligations, demands, charges, expenses, and/or costs (including reasonable attorney’s fees) arising from:

  • A third-party claim, action, or allegation of infringement, misuse, or misappropriation based on information, data, files, or other content or materials you submit to us.
  • Any fraud, manipulation, or other breach of this Agreement or the Service.
  • Your violation of any other applicable laws, regulations, or rights of a third party, including rights of privacy, publicity or other property rights.
  • The provision of the Service or use of the Service by you or any third party.
  • Any negligent or intentional act or omission by you in the performance of your obligations under this Agreement.
  • The violation of any applicable law, statute, or regulation in the performance of your obligations under this Agreement.
  • Any breach of a representation, warranty, covenant, or obligation contained in this Agreement.

We reserve the right to defend/control (at our own expense) any matter otherwise subject to indemnification by you. In such a case, you will cooperate with us in asserting any available defenses. You won’t settle any action or claims on our behalf without our prior written consent.

You are providing this indemnification without regard to whether our claim for indemnification is due to the use of the Service by you, your Authorized Representative or your Delegate.

9. General Provisions

⁠9(a) Changes to Agreement:  Except as otherwise required by law, we may in our sole discretion add, delete, or change the terms of this Agreement at any time.

We’ll inform you of changes to the Agreement when legally required to do so, and we’ll try to notify you of material changes as soon as possible even when we are not legally required to do so.  We will communicate such changes by updating this Agreement on our Website, and may also communicate such changes by email, mail, and/or providing notice of change on our Website.

You or your Authorized Representative’s continued use of the Service after the effective date of any updated terms of the Agreement are posted on our Website is an agreement by you to any such change to the Agreement. Except as otherwise required by law, any change to this Agreement applies only to transactions that occur, or claims that arise, after the change becomes effective.

9(b) Governing Law, Jurisdiction, and Venue:  Our headquarters are located in Sioux Falls, South Dakota.  This Agreement shall be governed under the laws of the State of South Dakota without regard to its conflicts of law provisions.  All actions or proceedings arising out of or relating to these terms shall be venued exclusively in state court in Minnehaha County, South Dakota, or in the southern division of federal district court in the district of South Dakota.  You consent and submit to the personal jurisdiction of said courts for all purposes and waive any objection to the exercise of jurisdiction over you by such courts and to venue in such courts.

9(c) Assignment:  We may assign our interest in this Agreement to any now-existing or future direct or indirect affiliate of LITC. However, you may not assign or transfer this Agreement.

We may also assign or delegate certain of our rights and responsibilities under this Agreement to independent contractors or other third parties.

9(d)  Intellectual Property and Other Proprietary Rights:  Other than your personal account information, all content included or available on the Service, such as advertisements, text graphics, button icons, images, audio clips and software, including the collection, arrangement and assembly thereof, is the property of LITC and/or third parties, and is protected by the Copyright Act and international treaties in addition to other state and federal intellectual property laws (collectively, the “Site Materials”).

The trademarks, logos, and service marks displayed on the Service (collectively, the “Trademarks”) are the registered and unregistered trademarks of LITC, or third parties. You may not use, copy, alter, modify, or change these Trademarks or copy, display, distribute, transfer, link to, reproduce, license, frame, alter, create derivative works of, or republish all or any portion of the Site Materials for any commercial or public purpose.  The Service does not grant (by implication or otherwise) any license or right to use any Trademarks or Site Materials without the express written permission of LITC, or the third party that has rights to such Trademarks or Site Materials.

9(e) Entire Agreement:  In combination with other applicable LITC agreements, this Agreement represents the agreement between you and LITC regarding the Service. It merges and supersedes all previous and contemporaneous written or oral agreements and understandings regarding the subject of online access.

Each of the rules, terms, and conditions set forth in this Agreement stands alone. Any term or condition contained in this Agreement that is inconsistent with the applicable laws and regulations that may govern the Service will be deemed to have been modified by us and applied in a manner consistent with such laws and regulations.

Unless stated otherwise, if any provision of this Agreement is held to be invalid or otherwise unenforceable, the remainder of the provisions will remain in full force and effect, and will in no way be invalidated or otherwise affected.

10(f) Waiver:  We may agree in writing (or otherwise) to waive a provision of this Agreement, including a fee (a “Waiver”). We may revoke any Waiver.

10(g) Failure to Act:  Our failure to act with respect to a breach of the Agreement by you or others doesn’t waive our right to act with respect to subsequent or similar breaches.

Last updated: February 10, 2022