The program itself is a structured financial product and has the protection of a consortium of A+ rated insurers protecting the pool of funds. Money paid for the program (minus operational costs) is placed into a trust and this pool of funds has insurance to protect it against all defined perils, meaning that the client is absolutely guaranteed that the money will be there at the end of their term.
A one-page client agreement is added to the closing documents at point of sale. The customer will then be asked to register online at the Timeless Protect website as a check and balance. Once this is done and payment is received for the program, the clock starts for their Buy Back Option.
The program was designed to build loyalty for your company, so if the customer wishes to purchase more with you or double their investment, you have two options. Option 1 would be to cash out their current program for the number of years already in and use those funds to re-invest in more product or Option 2 simply start a second program, so they would then have two buy back option dates, one for the original and one for the new. We leave this to you to decide what is best for you and your client.
Because the funds are placed in a trust, with the capital company acting as a trustee, this means the funds are protected from anything that could befall the corporation itself. The customer is registered with the trust and a copy of each customer’s registration is held by the trustee, thus having the survivability of any of the individual entities including the sales company or Timeless Protect.
This is a common question as most clients have never had this protection offered to them before. In order for us to work with their other assets, they need to have the company register and be approved by Timeless Protect. Not all companies and products qualify for this innovative program, but we are more than happy to work with them to find out if they can qualify. In more than one instance, we have expanded our program to new companies because the customer has requested it.