Insurance Advisory Services

Life insurance is simply a tool for solving a specific set of objectives. Conversations need to start with if a need exists, not how much or what type. Together, we determine the nature and duration of any given liability, and whether life insurance makes sense economically, or whether a non-insurance solution is more viable.

In any professional firm, the behavior of the partners has a trickledown effect on the behavior of the team. If the partners’ primary goal is to complete a transaction, the motive frames how their team designs and presents your options.

If the goal is to determine whether or not insurance can be helpful, there’s a completely different internal directive in the policy design phase. At WealthPoint, our teams are mentored to run all subjective policy design variables through a filter of your stated objectives – not ours.

This mentorship is backed by our proprietary IV™ software. It allows us to stress test policy design against real world objectives. We identify both the upside and downside risks embedded in our proposed solutions, and we uncover intended and unintended consequences in three essential realms: numerical, operational and relational. Most importantly, our presentations clearly communicate the potential positive and negative outcomes of your various choices.

In large, complex situations – such as significant multi-generational strategies, complicated entity structures or unusual financing needs – this combination of technology and team elevates the efficiency and impact embedded in the outcomes.

Compensation is the largest expense in the first 10 years of a life insurance contract. It can also be a subjective element of policy design. Premium payments flow into a variety of drivers within the policy. Design decisions directly impact the efficiency with which those dollars are applied, and in turn the policy’s short-term and long-term performance.

The professionals who develop your recommendations may have the ability to increase or decrease their compensation – based on the variables they dial into the policy design software. Lower advisor compensation can dramatically increase post-purchase policy performance.

At WealthPoint, we proactively reduce compensation where prudent, by calculating the age of the client, the complexity of the problem we’re trying to solve, and the long-term service needs of the policy. The result is Mutual Transparency – we share as much about our model as we expect the client to disclose about themselves. It creates space for Mutual Ownership – a process that honors and respects all participants.

In traditional approaches to underwriting, there are often substantial discrepancies between the insurance companies’ perceived risk, and your actual health and projected longevity. These information gaps and inaccuracies inflate policy pricing. Gaps exist because underwriters lack sufficient medical evidence to support accurate risk assessments.

Standard industry practice is to gather and aggregate existing medical information and present it to underwriters with a cover letter. However, medical records only tell the clinical part of the story. Also, the records typically contain inaccurate and outdated information.

In contrast, we begin with a gut instinct regarding what we can achieve in underwriting for you specifically. We apply our instincts to deep discovery. We discuss your sense of your health and well-being and confirm the accuracy of your medical records. When warranted, we interview physicians and do our own due diligence on medical conditions reflected in the records.

This early-stage strategic work allows us to present underwriters with a full set of accurate information: one that tells the clinical story alongside the human story. They’re able to envision the person whose risk they’re assessing. This diligence is met with respect by the underwriters, allowing us to advocate for you on a peer-to-peer basis. When underwriters have the evidence they need to make accurate risk assessments, policy pricing is no longer unduly inflated.

Historically the insurance industry has operated primarily as a product distribution model. As such, there is a grave void of post-acquisition service. Importantly, and not widely known, insurance vehicles actually change post-acquisition.

Long-term policy performance is directly impacted by the state of the economy, the financial markets, the tax code, and the insurance markets themselves. Lack of diligent, annual care creates a precarious question: will the policies deflate or implode before the time of need? The greater the lapse of time between reviews, the more severe and costly the problems become.

Importantly, we offer the same depth and frequency of post-purchase diligence regardless of where you acquired your policies. It’s a commitment to tire-kick our own work, not just that of another firm.

Learn more about our Review Process