Dynamic Market Evaluation
The insurance marketplace is extremely dynamic, producing new transactions that are valuable as well as those that are best avoided.We have seen a wide variety of strategies over 30 years, and can shift through the numerous concepts to identify those with reasonable assumptions. Our evaluative approach to new concepts strikes a balance between "cautiously aggressive" and "aggressively cautious." The keys are to identify and assess the risks posed by each alternative (including making no strategic changes) and effectively compare the risks to the projected benefits. This ability to deliver critical thinking has never been more important.
- Is now the right time to look at new, more current planning strategies than those you have in place?
- How would changing strategies affect your risk?
Existing Strategy Analysis
We can help you understand how your current coverage is structured and how it can be utilized to meet your future goals.It is extremely rare for estate planning to begin with a blank slate. It is far more common to find structures or transactions already in place, and all too often, to find that past life insurance transactions are not properly documented or administered. Our years of experience allow us to provide assistance in identifying the policy structure and funding technique employed. We can then determine what it will cost to keep the coverage in place and the impact (if any) of terminating the transaction. When appropriate, we can identify suitable, realistic alternatives.
- How have changes in the tax laws impacted your insurance transactions?
- Do you understand the financial and potential tax risks involved in the insurance strategies you have implemented?
Underwriting Acumen
As the clients' underwriting advocate, we have direct impact on securing the most favorable risk class and cost-effective coverage by managing the underwriting process, controlling the data and pro-actively addressing potential obstacles.Effective life insurance underwriting requires a blend of diverse skills, combining medical knowledge, business acumen, negotiating and financial analysis. JR Katz's team of professionals has extensive experience with risk impaired underwriting. Our preferred relationships, partnerships, and rapport with medical directors and life insurance underwriters provide significant advantages on behalf of our clients. Personal integrity and credibility are critical to our success in this area, and the established reputation of JR Katz in the market enables us to work with insurance carriers and secure the most favorable terms.
- What are the most important considerations in assuring the selection of the right companies and the most attractive terms in your life insurance portfolio?
- Are there extenuating circumstances that would benefit from special attention?
Begin the process here by filling out a JR Katz Questionnaire and HIPAA form JRK Questionnaire & HIPAA (pdf)
Pro-Active Supervision
JR Katz remains actively involved with our clients by managing their life insurance policies to achieve targeted results.While our clients' estate planning often remains constant, the surrounding economic environment never stops changing. Embedding the flexibility required to respond to these changes in a modern life insurance portfolio requires more than simple policy service; it takes a dedicated, pro-active approach to evaluating current policy performance and identifying opportunities to enhance value. At JR Katz, this involves evaluating all options from a simple change in how a policy is funded to "outside the box" thinking.
- How do you keep up with the changing market and how can you leverage the changes for your policy?
Independent Review
JR Katz offers clients an Insurance Portfolio Review to provide an unbiased assessment to determine if their life insurance portfolio is in alignment with their current financial needs.Evaluating an existing life insurance portfolio requires a blend of JR Katz's core competencies combined with a healthy measure of innovative thinking. The process begins with reviewing and updating the criteria which prompted the acquisition of the insurance and assessing changes in the current estate or business environment. Our process entails evaluating performance benchmarks of the portfolio policies compared to their original plan design, assessing potential opportunities to lower costs and provide additional product features, and conducting due diligence of insurance carriers' financial ratings. We want to ensure that insurance products meet our clients' current financial needs and are among the most competitive and cost-effective in the industry.
- When was the last time you looked at your portfolio as a whole and as separate components?
- Is your insurance advisor actively demonstrating all your options?
Optimizing your Life Insurance Coverage (pdf)
JR Katz's approach to underwriting advocacy