Our Service Commitment
Life insurance acquisitions are long-term commitments. Our clients commit to paying the premiums for their policies; insurance carriers commit to delivering the promised benefits; and, Gateway Financial commits to providing on-going policy service.
We take our commitment seriously. In fact, our service is our hallmark. While most insurance agencies spend the majority of their time developing new clients, 80% of our people-time is spent servicing existing clients. While "service" to most insurance agencies means address, owner and beneficiary changes, "service" to Gateway Financial means...
- Preparing Performance Benchmark Reports. These reports summarize how, when, what and why the insurance was acquired, compare original projections against actual results and identify any necessary funding or benefit adjustments.
- Serving as an insurance carrier watch-dog to make sure policy changes are reasonably consistent with the carrier's experience and current marketplace conditions.
- Recommending the removal of medical ratings and smoker ratings on inforce policies that are commensurate with client health improvements.
- Advising clients of newly available policy enhancements that may be added to their policies at little or no cost.
- Tracking term insurance guarantee periods and conversion rights.
- Recommending term insurance replacements when more efficient term products become available in the marketplace.
- Reporting premium histories and premium projections to our clients' advisors for gift-tax filing purposes.
- Pro-actively reporting imputed income to our business clients for their Executive Life and Disability Programs.
- Providing comprehensive administration of Split-Dollar-funded policies which includes preparing of cash value, imputed income and cash flow reports, enrolling new participants, processing terminated participants and recommending plan changes in light of new tax legislation.