PORTFOLIO MANAGEMENT

Closing and Escrow

After all due diligence is completed and all outstanding issues have been corrected, the closing process begins. Every closing is different and each offers tremendous complexity, but that's where our experienced case managers take over, handling every detail of the process, checking and rechecking all details along the way. Again, most of this process takes place in our secure online environment which is accessible to the client. Just some of the items we verify during closing are listed below:

• Confirm policy number, insured name, beneficiary, signed application, delivery requirements
• Policy copy includes all pages, including all riders, schedules, endorsements, amendments, annexes, and conversion dates if applicable
• Illustration is current, run to age 100 with cash value greater than zero, maturity extension rider present if applicable
• When applicable, all documents notarized with proper witness signature present
• LEs are current, SSN is verified, DOB matches on all documents
• Driver's license matches all other information
• Medical records present and all information aligns with all other documents
• Appropriate tax forms are all completed, with no missing data, and all data matches all other documents
• Divorce / Bankruptcy discharge papers if applicable are present and in order
• Current VOC is obtained, the policy is in force, no loans or other encumbrances, the death benefit matches the policy, and current values are present
• If issued into a trust or LLC, it was done so in an approved state and all details align with other documents
• All exhibits are all present, complete, notarized, and in order
• Seller payment instructions are present and complete

Once all closing packages are assembled in a standardized fashion in complete order, then the process moves into the Escrow phase. We assist in setting up and handling all details regarding the escrow process including setting up the account, managing the account, and assisting in transfer of the policy or portfolio's interest. All change forms are completed and submitted to the appropriate parties and the policies are once again verified to ensure that the buyer has complete control and full ownership.