Putting the Freeze on Fees

Martha Petitjean – Executive Benefits Coordinator

Executive Benefits Network provides fee-free access to client’s financial information, including illustrations and annual reports. This is not the case with most companies. As illustrated by Peter Katt & Company’s article, Quagmire of Life Insurance Policy Service*, access to information about financial products is not common in the industry.

Insurance companies have become increasingly repressive when clients seek to obtain policy information. When a request for information or forms is made, many companies are now requiring fees and more paperwork, which is aggravating to many clients. Requesting an in-force illustration is a frequent occurrence for clients of any insurance company; however, some companies may charge clients if an illustration is requested more than once a year.

Clients should not have to pay for information about a financial product they own. Quagmire of Life Insurance Policy* Service states, “I now caution new clients that obtaining information to review their policies is going to be frustrating and time consuming.”

Executive Benefits Network handles all administration to ensure the highest quality of service and complete access to policy information. Executive Benefits Network has access to some of the highest rated companies, including Northwestern Mutual, which does not charge illustration fees and will helpfully produce requested information in a timely manner.

For a complete list of all of the administration and services Executive Benefits Network provides, please visit our website:
>>Banking Services
>>Executive Benefits Services


*”Quagmire of Life Insurance Policy Service.” Life Insurance Perspectives 17 (Jan. 2015): 1. Katt & Company. Jan. 2015. Web. Feb. 2015. <http://www.peterkatt.com/newsletters/ATI_v17n01.html>.