May 31, 2016
In 2014 DB Digest published an article outlining the benefits of a continuous death audit. The author, Justin Guy, pointed out that speed is a crucial factor because of the risk of losing funds when an annuitant is paid several months after death because it is not reported quickly enough.
This is where LifeStatus360 comes in. We understand that time is money and offer our clients daily updates. That’s right, DAILY reporting using a variety of resources. A single method is just not good enough to provide fast, reliable information so we utilize relationships with federal, state and local organizations as well as our obituary and proprietary sources to provide a unique, overlapping analysis and continuous monitoring.
The old method of quarterly, monthly or even weekly reporting is quite simply too slow. Our new methodology, the new standard, of daily continuous death auditing – along with better and varied resources – will help you minimize overpayments. The faster and more accurate our reports are, the faster you can take action – saving you the time and money spent on overpayments.
Location is key…
And while we’re on the subject of new standards, don’t forget to think about location. Typically, location hasn’t been referenced as a major factor in our industry, but at LifeStatus we think it should be. LifeStatus360 is located in a Class A Building. What exactly does that mean? It means top-notch infrastructure, technology and security. And in this business, technology and security are kings. We employ onsite security personnel, state-of-the-art security systems, video monitoring and superior infrastructure at a level just not available in lower class buildings.
When selecting a death audit provider be sure to ask a few questions about location: What type of building are you in? What type of security do you employ? How safe is the area? What is the address? Google map the location and check it out for yourself. Some of our competitors work out of lower class buildings and even out of their own homes. If their facility isn’t a priority to them, your information and security might not be either.
LifeStatus360 is located at 1850 Gateway Blvd., Suite 260, Concord, CA 94520. Feel free to Google it.