Independent Escrow & Banking Services
Reliant Life Shares, LLC has appointed UMB Bank, n.a. to act as Reliant Life Shares’ third-party escrow agent and trustee of the Reliant Life Shares Series Trust (“Reliant Trust”). Reliant is responsible for providing direction to UMB in the management and administration of investor accounts invested in the Reliant Trust.
UMB Bank is a division of UMB Financial Corporation (Nasdaq: UMBF), an institution founded in 1913. For more information on the company, please visit: http://umbfinancial.com.
How we Earn Investor Confidence Through Our Structure
1. As directed by Reliant Life Shares, UMB Bank establishes an escrow account for the benefit of investors titled “The Reliant Life Shares’ Subscription Escrow Account.” In order to ensure safekeeping of the assets placed in trust, Reliant Life Shares has authorized UMB to act as custodian and trustee, with sole signatory authority on this account.
2. The Subscription Escrow Account – as authorized by Reliant Life Shares, UMB acts as an escrow agent and accepts the investor’s funds into this account until the investor selects their desired policy (or policies). The flexibility of this account allows investors to withdraw their money any time without a penalty. Investors who place their funds in the Subscription Escrow Account have the unique advantage of participating in Reliant Life Shares’ most desirable polices before they become available to the general investor pool.
3. Premium Reserve Account – after the investor selects their policy (or policies), the trustee will transfer their subscription funds from the Subscription Escrow Account to secure their purchase and fund the Premium Reserve Account, which is also administered by UMB as trustee.
4. The investor receives a recorded confirmation of their beneficial interest from UMB on their selected policy (or policies).
5. The trustee confirms that that all required premiums are paid from the Premium Reserve Account, maintained by UMB. Investors will be informed upon the maturity of any life insurance policies, as required.
6. Once a policy matures, UMB will file a death benefit claim with the insurance company. The investor, who owns the beneficial interest in the policy, will receive their proportional share of the policy proceeds as predetermined in their Purchase Agreement.
7. Disbursement Option – investors can receive all or part of the maturity value as a cash payout, or
8. Re-Investment Option – investors can re-invest their maturity value by selecting from the current portfolio of policies