The Best Policy by G. Tate Groome

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...the best policy
by G. Tate Groome

...The Best Policy

Managing Irrevocable Life Insurance Trusts: Getting to the Heart of the Matter

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Second Edition—released in 2020

The Second Edition of …THE BEST POLICY is a more in-depth look at Managing Irrevocable Life Insurance Trusts.

ILIT’s can be tricky, and deserve a special platform in truly understanding policy monitoring and administration. Tate’s team gained insights throughout the years by way of various unique and powerful case studies. Tate re-wrote …the Best Policy to bring this newly learned intellectual capital to wealth and trust professionals around the U.S. ….The Best Policy newly printed topics include (but are not limited to): Life settlements, new case studies, and the importance of private-equity firms entering the Insurance Market.

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This book was extremely eye opening in evaluating how the right insurance policy can best support my estate planning goals. Glad I read as my policy was not the most effective! The author has a way of explaining complicated subject matters with thoughtful insight. Best of all, the entire book is written in a kind tone. It's very clear that G. Tate Groome truly wants everyone to have the Best Policy.
Chris Jordan
This book unpacks how to avoid common pitfalls as a consumer, how to ask the right questions, and how to work with partners who have a long term outlook on their commitment to their clients. Unfortunately, the compensation model for life insurance has created a disincentive for ongoing service for the life of the policy. This creates an opportunity for consumers to spend years shelling out premiums for a narrative that was flawed since the time of underwriting.Well done, Tate. Thank you for shining light on the ongoing servicing aspect of the life insurance industry.
Samuel J. Galloway
Great information for fiduciaries on the intricacies of ILITs. Chapter 9 on Life Settlements is worth the price of admission by itself.
Amazon Customer
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Original Edition—released in 2014

We’re all familiar with the old adage: Honesty is the best policy. The adage drove our ethics as children, and all too often, we lose sight of the best policy as adults. In …the Best Policy, G. Tate Groome works to guide fiduciaries to the irrevocable life insurance policy structure that is truly right for their clients, deftly combining insurance expertise acquired over three generations with honesty and a code of conduct in an otherwise sterile business world. With a gentle emphasis on the personal, loving element that lies behind each policy, Groome uses …the Best Policy to help grantors and fiduciaries alike understand effective methods to monitor, manage, and sometimes restructure ILITs so that each grantor and trust beneficiary can have the best policy indeed.