- Independence: Lifeco is not tied, or required to, place business with any particular insurer. We are not a captive agent; rather, we operate as an independent broker seeking to obtain the best insurance coverage to meet your need(s) from the highest rated carrier at the lowest premium possible.
- Working for you: As an independent life and health insurance agency, we represent you, our client – not any insurer. Feel free to Contact Us to request one or more examples of the type(s) of analysis/due diligence/work efforts we engage in for clients.
- Pre-underwriting cases: Where possible, we always seek to have cases pre-underwritten to get a sense as to (a) insurability; (b) possible ratings and (c) compare carriers to one another. This also often reduces the actual application (and even underwriting) time since a lot of the case work has been done on the front end.
- Leveraging one or more wholesalers: By working with one or more insurance wholesalers, Lifeco’s clients benefit from economies of scale given the considerable premiums being placed with each carrier thru such wholesaler(s). Accordingly, this provides leverage when seeking the best rating and policy structure. Along with working with wholesalers from pre-case inception to policy placement, we are also able to access underwriters directly as needed to discuss cases.
- Outside-the-box thinking: We are not constrained to conventional thinking. Flexibility is important when it comes to insurance planning, and we let the client’s unique facts and circumstances dictate our advice. As an example, we have utilized various forms of insurance (e.g. life, disability income and long-term care) as part of divorce planning incorporating vesting periods and structures designed, as well as recommended life insurance settlements in the appropriate situations.
- Existing insurance reviews: We seek to provide our clients with information on their existing insurance coverages – as it may not be necessary to obtain new policies. This assessment is based upon a complete and thorough understanding of the client’s financial circumstances – both personal and, if applicable, business. And, insurance needs to be reviewed periodically – just as one’s investment portfolio. Insurance is not a set-it-and-forget it type of asset.
- Consultative and relationship-oriented approach: Lifeco functions as a consultant rendering advice and solutions, rather than selling products. The placement of a particular form of insurance is a by-product of the planning process. Lifeco seeks to develop long-term, mutually beneficial relationships by being proactive in addressing client insurance needs based upon an intimate knowledge of you and your situation. Our philosophy is to under- promise and over-deliver by setting clear expectations and providing value-added to you and all other interested parties.
- Risk management: Insurance, as with so many other topics within personal and business finance, is nothing more than risk management. Too often, many of us fail to plan for the worst-case scenario and potential downside. Although we always want to have a glass if half full approach, when planning it is also necessary to incorporate a glass is half empty approach.
- Other types of insurance: Although Lifeco principally focuses on and places life, disability income (and disability-related) and long-term care insurance, we understand the importance of other types of insurance including, but not limited to, health/medical, umbrella, errors & omissions, Board of Director’s, homeowners/auto, commercial/multi-peril, etc. We are able to bring in outside/independent professionals to assist clients who require forms of insurance outside of our expertise.
- Comprehensive wealth management planning: A related entity, Jedi Management, Inc., provides wealth management planning to clients. Accordingly, we recognize the importance of understanding all aspects relevant to a client’s finances – not just the insurance component. Please click here to visit Jedi Management, Inc.’s website.