Implementation Guide
Follow this step-by-step guide to understand the Generational Gifting Concept Implementation process from start to finish
This is the first step in your implementation journey! After you submit the request to meet with one of our Generational Gifting Concept Practitioners, you will be contacted within 24-48 hours of your request. While you await the initial contact from your practitioner this is an excellent chance to review the other resources available throughout the platform. The Practitioner that you are assigned with will be working with you from start to finish and will also be available for you long after the implementation process is complete.
Submit Request to meet with a Generational Gifting Concept Practitioner
The Generational Gifting Concept Knowledge Library is perhaps one of the most important resources for you to utilize. The Knowledge Library was designed to give you a high-level understanding of the more important topics to consider when implementing the Generational Gifting Concept. There is roughly 1 full hour of content, and each video is shortened down to 2-3 minutes each. By making the small investment of time to review each video, this will allow the introductory call with your practitioner to go as smoothly as possible.
Complete the Knowledge Library Modules
During the initial workshop with your Practitioner, you will be able to express your gifting goals and aspirations and of course ask as many questions as you would like! This is also an opportunity for your Practitioner to gather the necessary info required to design your specific and unique gifting plan. Although our Practitioners are amongst the most seasoned in their field, there are cases where our Advanced Planning team is required to assist with the case. In short, the more info you can provide during this call that is relevant to your plan design, the better our team can prepare to not only meet, but hopefully exceed your gifting goals and aspirations.
Complete the Initial Gifting Workshop
After the initial gifting workshop has been completed, your Practitioner will build out your custom gifting plan which will be reviewed over screenshare on a zoom call. Following the zoom call your gifting plan will be emailed to you so you can review the plan in detail on your own time. If there are any changes major or minor that you would like to explore, you can simply contact your Practitioner to adjust the plan design as needed. In the event you decide to change any details of the plan design, you can do so before the policies are approved and placed in force.
Review and Finalize your Generational Gifting Concept Plan Design
Once you are ready to begin the application process you will then schedule a 15-20min phone call with your practitioner. The application documents are sent with a secured link directly from the insurer the policies are being submitted too. All documents are completed with an Esignature. The average timeline from an application being submitted to an approval from the insurer is typically 3-7 days if the insured is younger than 17 years old. In the event the underwriter orders medical records from the insureds physician which is very common, the timeline could be between 2-4 weeks.
Complete the Application & Underwriting Process
After the insurer has completed the underwriting process and fully approves the policy, your Practitioner will send you the final policy documents for your review. If there are any changes that you would like to make to the policy design, this is the last opportunity you will have to make the changes. Once you have reviewed the final documents you can then Esign the required forms and make the first premium payment which will finalize the policy.
Complete the Approved Final Policy Documents
Once the policy has been successfully placed in force with the insurer, you will then schedule the post implementation review with your practitioner. The purpose of this final review is to make sure the implementation was completed correctly based on the approved gifting plan design and to of course answer any additional questions you may have. During this meeting your practitioner will guide you through the most efficient way of completing the Legacy Planning Kit.
Complete the Post Implementation Review with your Generational Gifting Concept Practitioner
The Legacy Planning Kit is an integral part of a successful Generational Gifting Concept Implementation. This is a physical step by step guide that is sent to the giftor to complete. The purpose of the Legacy Planning Kit is for the giftor to document the reasons this gift was given and to also provide a guide for all parties of the policy to follow in future years to assure the original gifting goals and intentions are followed. Your Practitioner will be able to assist you with any questions you may have while completing the Legacy Planning Kit.
Complete the Legacy Planning Kit
For many, this may be one of the most important steps to complete. Providing a lifelong gift to your loved one is not something you have an opportunity to do on a regular basis and this should be created into a memorable and special occasion. Odds are when you give this gift to your child or grandchild, they will not be old enough to understand the meaning and importance of what you have done for them. The Generational Gifting Concept team recommends you take a picture together with the gifted the day you complete the implementation process and include that picture in the legacy planning kit with a personal letter from you to open at a future date. When the gifted is at an age where they understand what you have done for them, the picture & letter will speak a million words
Create a Memorable Gifting Experience for the gifted
Within the Legacy Planning Kit you will also have a post implementation guide. The purpose of this guide is to provide you with a step by step map of how to utilize the policy in the most efficient way during major life milestones of the gifted. Over time you may need to refresh yourself on the features and capabilities of your gifting design and the post implementation guide is a perfect resource to help you accomplish that. You are also able to contact your Practitioner at any point in the future to revisit your original gifting plans.
Follow the Post Implementation Guide during major life milestones
Meet with a Generational Gifting Concept Practitioner
We are excited to take the next steps with you and help change the financial landscape of your future generations.