The Issue

You may serve as a trustee or a fiduciary for clients with individual, corporate, or trust-owned life insurance. You know under OCC guidelines it is your fiduciary responsibility to actively manage life insurance just as you would stocks, bonds or any other financial asset. You want to do what is best for each and every client, but you don’t have the resources or time to manage each existing policy manually over the lifetime of each client.

The Proformex Solution for Fiduciaries

Proformex Professional is the turn-key solution you need to actively monitor the performance of your clients' life insurance policies and provide them with the best possible outcomes while following best practices to reduce your liability exposure. With Proformex Professional, you get:

  • A turn-key policy management solution for all of your clients' inforce life insurance policies in a single place regardless of ownership structure, product type, carrier, or agent association
  • The ability to easily identify at risk policies with our Portfolio Analytics dashboard and drill down to see individual policy performance data
  • Client ready Policy Reviews and Coverage Assessments to provide peace of mind that the current policy is meeting or exceeding your clients’ needs
  • Automated notifications and documentation to help you effortlessly manage Crummey letters, premium reminders and payment verifications
            Schedule a Demo 

How Does it Work?

Data Collection & Storage

Once the initial policy data has been populated in the system, Proformex Professional takes over, keeping track of critical anniversary dates and proactively requesting statements and illustrations from carriers for each policy every year. The system stores historical documents in an organized folder structure and notifies you if the requested documents are not received.

Fiduciary/Trustee Responsibilities

Never again will you worry that you are not fulling your fiduciary responsibilities — Proformex Professional automates common tasks such as sending premium gift reminders, generating Crummey Letters for ILITs, and requesting premium payment verification from carriers.

Policy Monitoring

The system tracks five key performance parameters of life insurance policies – lapse age, death benefit, annualized premium, internal crediting rate and the carriers Comdex rating – and allows you to set monitoring guidelines which trigger alerts if any of the five parameters fall outside of your client’s preferred limits.


Policy Alerts

The system generates consolidated alerts which identify policies that are projected to lapse, have their term conversion period expire, or which could be potentially sold or financed.

Policy Reviews

Proformex Professional gives you annual Policy Reports and Coverage Assessments for each policy in the system, providing you with insight into how the current policy is performing, any additional cost requirements to extend the length of the current contract, a cost and benefit summary for up to three replacement products, and the probability of receiving more than the cash surrender value through a sale of the policy. With this information at your fingertips, you can give your client the information they require to make the right decision for their life needs.

Portfolio Analytics

See both the forest (your overall book of business) and the trees (the individual policies) with equal clarity using the analytics built into Proformex Professional. Drill down by policy type, ownership type, anniversary, premium payments, agents, trustees, beneficiaries and more.

Notifications & Carrier Form Requests

Proformex Professional allows you to set interval- and action-based notification triggers to fit your specific requirements and request Carrier Forms, such as ownership change forms, beneficiary change forms, and death claim forms, as needed.

Which Proformex Subscription Should I Choose?

Proformex offers three subscription models to meet the needs of agents, advisors and fiduciaries.

Feature Basic Premium Professional
Data Collection      
Form Requests     X
Policy Statements X X X
Premium Verfications     X
Beneficiary Changes     X
Ownership Changes     X
Address Changes     X
Death Claims     X
Document Upload X X X
Foldering   X X
Policy Grouping   X X
Policy Data      
Policy Details X X X
Go Forward Death Benefit IRR X X X
Year over Year Tracking X X X
Owner Information X X X
Beneficiary Information X X X
Insured Information X X X
Policy Documents X X X
Policy Notes   X X
Policy Tasks   X X
Illustration Ordering      
Request Current Illustration X X X
Request Alternative Illustration(s) X X X
Automated Request Scheduling X X X
Policy Monitoring      
Tracked Data Points X X X
Lapsed Age X X X
Death Benefits X X X
Premium X X X
Credit Rating X X X
Comdex X X X
Monitoring Guidelines X X X
Policy Details X X X
Policy Report Tool   X X
Coverage Assessment Tool   X X
Reporting Services      
Policy Review   X X
Coverage Assessment     X
Premium Reminders   X X
Premium Gift Reminders     X
Carrier Request(s)   X X
Performance Monitoring   X X
Carrier Comdex Change   X X
Crummey Letters     X
Interval-based Triggers   X X
Action-based Triggers   X X
All Policies X X X
Reviewed Policies YTD   X X
Alerts X X X
Drill down by:      
Carriers X X X
Product Types X X X
Ownership Types X X X
Policy Beneficiary X X X
Policy Anniversary X X X
Premium Payments X X X
Premium Gifts     X
Insurance Agents X X X
Trustees     X
Trust Beneficiaries     X
Request Alternatives      
Modify Policy     X
Replace Policy     X
Sell Policy     X
Finance Policy     X