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Valmark Policy Management Company Recognized For Innovative Approach To Managing Life Insurance Policies


Valmark Policy Management Company Recognized For Innovative Approach To Managing Life Insurance Policies

Ongoing, active monitoring and management of in force policies is changing the advisor-client relationship experience

PR Newswire

AKRON, Ohio, July 31, 2018 /PRNewswire/ -- Valmark Financial Group is excited to announce that Michael Michlitsch, Director, Valmark Policy Management Company (VPMC), has been recognized by LIMRA as a "Rising Star of Innovation" for the work he and his team have done to develop the unique service offered by the VPMC. LIMRA, the financial services industry's premier worldwide research, consulting and professional development organization, will honor Michlitsch at their annual conference in New York City in October.

(PRNewsfoto/Valmark Financial Group)

The VPMC is an active and ongoing life insurance policy management and monitoring solution designed to ensure policies meet client expectations. Moreover, the service exists to identify opportunities for maximizing the value of clients' policies by way of annual reviews, essentially providing "insurance on the insurance" and peace of mind to advisors and their clients that their policies are performing as intended.

Advisors affiliated with Valmark are able to partner with the VPMC and outsource this service. Since Michlitsch joined Valmark in mid-2016, he has built a dedicated team of professionals, developed and integrated an innovative technology platform and worked with a number of advisors affiliated with Valmark to grow the number of policies serviced under the VPMC by 500%.

"Ongoing management of policies after they are implemented is the most critical factor to a life insurance plan's long-term success," said Michlitsch. "On behalf of the advisor and client, our team provides first-class policy monitoring and management, complete with alerts and notifications, personalized in-force service and a detailed annual review report tailored to the original case design and/or current needs."

Together, these actions form a durable bridge, connecting clients' long-term objectives and expectations of promised policy benefits with their current policy performance and actual results. The VPMC is unique in being able to identify if the policy falls off track and then recommending actions to improve the policy or help the advisor and client seek alternative options.

Even though a life insurance policy is typically one of the longest-held and most complex financial products a client will ever own, statistically, 7 in 10 policies have not been reviewed in the last 5 years.1 The only person tasked with monitoring a policy is often the policy owner, who, most of the time, is completely unequipped to fill this role. Accordingly, issues with premium payments and timing of payments, non-enacted planned policy changes, and insurance company errors or policy changes, are at risk of not being identified, increasing the chance of policy underperformance.

"The majority of insurance professionals in the marketplace should technically still be called 'agents' as opposed to 'professionals,'" said Ron Ware, JD, President and CEO of Wealth Impact Partners located just outside of Boston. "They sell a policy to someone, make a commission, but more often than not they fail to service it. We use the VPMC because their deep dive audit, which includes a real-time comparison of what was originally illustrated to how the policy is currently tracking, helps us stay in front of policies to insure the promise that was made to our clients is actually going to be be fulfilled."

The VPMC currently manages over 270 different types of insurance products issued by a variety of 50+ different carriers.

"With the rapid changes we've seen in the life insurance industry over recent years, effective ongoing policy management is more critical than ever," said Chris Bottaro, Vice President, Insurance Services, Valmark Financial Group. "Products are becoming increasingly complex and a greater number of variables can affect the performance of the policy. Michael's work in creating an innovative offering that allows advisors to deliver on their promises to clients will radically transform the industry in a profound and positive way."

1 Harris and Prince, "The Problem with Trusts Owning Life Insurance," Trusts and Estate (5/2003): 62-63.

About Valmark Policy Management Company, LLC
Valmark Policy Management Company exists to ensure that actual results align with a client's expectations of their promised policy benefits. The company's ongoing policy management and monitoring services give Valmark Member Firms and their clients direct access and control of each policy's performance, using innovative technology and a dedicated team of Valmark experts. Grounded in Valmark Financial Group's 50+ years of providing sophisticated life insurance solutions, the VPMC creates a client experience that represents a new standard of excellence within the insurance industry.

For more information about Valmark Policy Management Company, including a video on how Valmark Member Firms are partnering with the VPMC for ongoing management and monitoring services, visit  

For more information about Valmark Financial Group, the parent company of Valmark Policy Management Company, visit  

Securities offered through Valmark Securities, Inc. Member FINRA/SIPC.

Contact: Jamie Summerville
VP, Communications
Valmark Financial Group
130 Springside Drive
Akron, OH 44333
P: 330.576.1234 x3609


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SOURCE Valmark Financial Group

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