Our Private Client platform is specifically built to accommodate high net worth clients in every aspect of the insurance planning:
Collaboration with Tax & Legal Counsel
Our Private Client Group team will meet directly with our advisers and their client to explain the life insurance component of the financial or business plan, answer any questions that arise regarding the finer points of a transaction, and set fair and realistic expectations.
As an extension of an adviser’s office, our dedicated Private Client case managers will oversee the application completion process which includes data gathering, obtaining necessary signatures, as well ordering medical records and scheduling medical exams.
Direct Collaboration with Tax & Legal Counsel
Clear communication among the entire team of trusted advisers is crucial. We have extensive experience working directly with tax, legal and investment counsel, and recommend engaging the team of key advisers as early on in the planning process as possible.
The underwriting process is about control. By compiling, analyzing and summarizing each insured’s application and medical records before submitting to the insurance carrier, SouthCap maintains full control of the underwriting process. Our proactive approach has proven to outperform the traditional, pricing-based carrier selection and underwriting model.
With a dedicated underwriter on staff, our underwriting process consists of preliminary discussions, internal medical analysis, informal underwriting, introductory positioning conversations with the insurance company, as well as case negotiation.
Life Insurance illustrations set very static expectations in a dynamic world. Our design philosophy encompasses thoroughly understanding the client’s objectives and risk tolerance, and then selecting carriers that possess a suitable product offering. In the initial phases of case design, we are carrier and product agnostic. We need to determine the true objective first. When designing sophisticated insurance strategies, we determine actual vs expected policy performance based on a carrier’s historical behavior, policy fees, current rates, and policy loan provisions. The company that wins the illustration pricing war, rarely, if ever wins the performance war. Our case design team navigates these waters for you.
As an independent firm, we possess strong relationships across the marketplace and have established a consistently strong reputation for our high quality of work. Each case is unique and not every carrier has the products, coverage retention, or risk appetite for every case. The first, and most crucial step in the carrier negotiation process is carrier selection. Once we complete our informal underwriting process and identify the key carriers for a given file, we then engage them in direct conversations and conduct our underwriting auction.
Market Updates and Product Education
As a niche-focused specialist, our job is to see the advanced life insurance market for our client. While life insurance’s underlying risk is not correlated to the capital markets, numerous economic and regulatory factors directly affect product pricing and innovation. As a team of experts who exclusively work in the advanced life insurance space, we are constantly observing and analyzing market trends and providing relevant updates.