Carley Matusak

Recognized Expert / Advisor-Referred

Our clients are best served by a highly-qualified team of independent advisors. We collaborate with a client’s attorney, accountant, financial and other professional advisors to create a fully-informed strategy, ensuring good judgment and sound solutions. We have embraced this idea and have proven over time that this practice will promote better, full-picture decision making.

High-Touch, White-Glove, Concierge Service

Our policy service model hinges on the proper calendaring of all potential future service events when a policy is first issued, including scheduled planned premium changes, acceptable no-lapse guaranteed premium windows, potential underwriting class improvement opportunities, conversion-period expiration dates, Section 101(j) compliance reminders, etc. These tracked events also include future policy reviews (i.e. Benchmark Reports) that we compile, provide and review with the client and their advisors on a periodic basis.

Periodic “Benchmark” Reviews

Every one to three policy years (depending on the policy structure and client's preference), Gateway Financial prepares and presents a Policy Benchmark Report to the client and the client's advisors. These reports summarize the policy's ownership and product structure, track premium payments, identify changes in post-issue pricing elements, project policy performance going forward based on several alternative cash value rate/dividend scale assumption scenarios, report on any changes in the carrier's financial ratings, and provide financial models and projections of recommended changes. These reports are called "Benchmark Reports" because they benchmark current projected policy performance against the policy projection provided in the Policy Documentation Package when the policy was issued (i.e., the benchmark).

Objective Third-Party Insurance Audits

An Objective Third-Party Insurance Audit is a written, bound summary and comprehensive assessment of an existing life insurance portfolio. The audit compares the policy application, the policy and the “as-issued” policy illustration to identify inconsistencies and determine if each policy was issued correctly with regard to insurance age, back-dated age (if applicable) and underwriting risk. For Section 1035 exchange cases, the audit checks to ensure that the basis and cash value rollover from exchanged policies were properly credited to the existing policy on a timely basis. It identifies the risk factors inherent in each policy type and the impact that these risk factors have on future policy performance and funding requirements. In cases where the insured’s health may have improved, the audit quantifies the premium savings that may be attainable if the insured undergoes additional underwriting and results are favorable. It also assesses the carrier(s)’ financial strength and financial outlook and identifies any former or current tax-detrimental policy ownership, beneficiary and premium payer arrangements (e.g. violation of the Transfer-For-Value rules).

Policy Documentation Packages

Each time a life insurance policy is issued through Gateway Financial, Gateway prepares and delivers to its clients and their advisors, a Policy Documentation Package. This is a bound package of information that includes: 1) An overview of the purpose of the coverage; 2) An explanation of how the insurance product works; 3) “As issued” policy projections at various assumed cash value rates/dividend scales; 4) an explanatory summary of those projections; 5) a one-page policy summary that lists the policy number, insurance carrier, insured, billing address, policy death benefit, premium, premium mode, premium payment window, policy owner, beneficiary, premium payor, policy date, etc. ; 6) the policy itself; and 7) copies of agreements pertaining to the policy (e.g. trust agreement).

Competitive and Forensic Underwriting Approach

Underwriting offers may have a dramatic impact on the cost of insurance. The premium cost difference between a “standard” underwriting offer and a “super preferred” offer can be as much as 30%. Gateway Financial's process is geared towards optimizing underwriting offers while minimizing medical and financial requirements. In most circumstances, the client’s medical records and insurance exam results are submitted to various carriers on an informal basis via a centralized, confidential and secure on-line underwriting requirement depository. This portal allows invited insurance carriers to view the preliminary medical information provided, assess it; then submit a preliminary underwriting offer for our consideration. Our informal submission process facilitates direct discussions between Gateway and the senior underwriters from multiple insurance carriers, allowing Gateway to negotiate optimum underwriting offers and pricing. In addition, it avoids the potential for any adverse reports about the client's underwriting results being submitted unnecessarily to the Medical Information Bureau ("MIB").

Our underwriting team’s expertise in a variety of key areas—including exam results, case presentation, carrier negotiations, and capacity management—enhances Gateway Financial’s ability to simplify the underwriting experience for clients, facilitate competitive underwriting offers, and deliver effective underwriting support and service.

Objectivity

Gateway Financial is independent; we are not committed to any one carrier. We have the freedom to choose the carrier and product that effectively fits our client’s needs. Our clients benefit from a line-up of leading brands in the industry and dozens of product types. This supports our ability to create, implement, and administer customized solutions. Our recommendations are based on objective quantitative and qualitative studies of all highly- rated carriers and competitive products in the marketplace.