Independent Escrow & Banking Services
Reliant Life Shares, LLC has appointed Christiana Trust 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 Christiana Trust in the management and administration of investor accounts invested in the Reliant Trust.
Christiana Trust is a division of Wilmington Savings Fund Society, FSB, a Delaware institution founded in 1832 and one of the seventh-oldest continually-operating banks in the United States. WSFS Financial Corporation has $4.4 billion in assets and $17.1 billion in fiduciary assets. (NASDAQ Trading Symbol: WSFS).
(WSFS Marks 180 Years of Serving the Community)
Reliant Life Shares chose Christiana Trust because of their 30 years of combined experience in life settlement transactions.
(Christiana’s Life Settlement Brochure)
How we Earn Investor Confidence Through Our Structure
1. As directed by Reliant Life Shares, Christiana Trust 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 Christiana Trust to act as custodian and trustee, with sole signatory authority on this account.
2. The Subscription Escrow Account – as authorized by Reliant Life Shares, Christiana Trust 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. Investor funds must be cleared in the Reliant Life Shares’ Trust and in the Subscription Escrow Account by the time a policy is made available for fractional share investment.
4. 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 Christiana Trust as trustee.
5. The investor receives a recorded confirmation of their beneficial interest from Christiana Trust on their selected policy (or policies).
6. The trustee confirms that that all required premiums are paid from the Premium Reserve Account, maintained by Christiana Trust. Investors will be informed upon the maturity of any life insurance policies, as required.
7. Once a policy matures, Christiana Trust 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.
8. Disbursement Option – investors can receive all or part of the maturity value as a cash payout, or
9. Re-Investment Option – investors can re-invest their maturity value by selecting from the current portfolio of policies