We Help Attorneys, Advisors, and Banks Reduce Costs, Eliminate Risks, and Monitor Trusts Online
Who We Are
Insurance Trust Services, LLC (ITS) provides irrevocable life insurance trust (ILIT) administration services to clients nationwide. In business since 2009, we currently provide ILIT administration services to approximately 700 clients in more than 15 states.
Our expertise, technology, and infrastructure allow us to provide superior service at a reduced cost compared to traditional in-house ILIT administration models. We have significant relationships with numerous regional and national banks, which help facilitate the efficient administration of our clients’ ILIT matters as well.
ILIT administration presents a variety of challenges for all parties involved. Trust and estate attorneys, insurance advisors, investment advisors, and trust banks typically find ILIT administration slow, expensive, and relatively high-risk all with little, if any, direct positive impact on their bottom line.
At ITS, we reverse the equation with the ITS Advantage. We streamline and simplify the process with systematic methodologies that reduce risk and, in doing so, reduce the financial burdens on our clients.
The ITS Advantage is comprised of four key tenets:
1. Reducing the Administrative Burden of ILIT Management
Irrevocable life insurance trust (ILIT) management places a heavy administrative burden on law firms, insurance companies, investment advisory firms, and banks. If this burden is not managed effectively, ILIT administration costs can quickly erase any profit potential. In fact, if your firm or institution offers ILIT administration services as a “loss leader,” you are not alone.
But, it does not have to be this way. By reducing the administrative burdens of ILIT management, firms and institutions can simultaneously achieve three beneficial outcomes:
- More-efficient ILIT administration and, thus more-satisfied clients
- Increased profit potential from ILIT administration services
- Frees up administrative resources for other functions
2. Reducing the Costs of ILIT Management
Reducing the administrative burdens of ILIT management also reduces the costs involved, but this is not the only way we help firms and institutions cut costs in their ILIT portfolios. We provide strategic consulting services that we custom-tailor to each firm’s and institution’s ILIT operations. We help our clients find areas where they can improve their operational efficiency and terminate unnecessary expenditures through these services.
3. Eliminating Risks for ILIT Fiduciaries
Irrevocable life insurance trust fiduciaries face risks in various facets of their operations. With our individualized approach, we identify our clients’ specific risks, and then we rely on decades of collective experience to help our clients manage their risks effectively. In many cases, we are able to help our clients eliminate ILIT administration-related risks entirely through organizational and operational improvements.
4. Providing Web-Based Performance Monitoring
In today’s world, ILIT fiduciaries need to stay up-to-date in real-time. In order to ensure that our clients have the information they need when they need it, we provide web-based performance monitoring utilizing our own state-of-the-art technology and infrastructure. Here, too, we offer fully customized solutions, and we can provide you with relevant data and insights based on the specific ILIT services your firm or institution provides. The more you know, the better you can manage your firm’s or institution’s risks, and the better able you will be to efficiently meet your clients’ demands.
Contact Insurance Trust Services, LLC to Learn More
Could your firm or institution serve its ILIT clients more efficiently and with less risk? To find out, contact us today. Call 561-241-9595 or contact us online to speak with an experienced member of our team in confidence.