Risk Mitigation & Document Review

A vitally important service that is provided by ITM is the Policy Remediation Service (PRS). This service is performed by a team of ITM specialists possessing legal, insurance, and fiduciary skills. The services may include an in-depth policy analysis, review of goals, objectives and suitability, request to carriers for additional policy illustrations, creation and distribution of disclosure statements and acknowledgement forms, drafting of correspondence to communicate with the advisor, grantor and beneficiaries as well as telephone briefings as needed.
Policies generally enter the Policy Remediation process through a referral. Referrals can be made by an ITM Trust Administrator or any parties to a trust, including the Trustee, Grantor or Beneficiary. The following are examples of how and when a policy may be referred for this service:
  • The Grantor, advisor to a Grantor, or a Trust Advisor expresses a concern about the status of a policy(s) to the Trustee or ITM staff
  • Notification of non-payment of gift or premium to the carrier is received from the insurance carrier, the Trust Advisor or Grantor
  • ITM Trust Administrator referral due to InsuranceIQ policy review resulting in a grade "D", "F", or "U".


Trust Document Review Service

ILIT document review and consultation, with focus on administrative and fiduciary risk issues.