At Witt Actuarial Services, we provide objective, fiduciary-level life insurance analysis for affluent individuals, families, business owners, trustees, and advisors nationwide. Unlike commission-based insurance agents, we do not sell insurance products or accept commissions from carriers. Our role is to serve as an independent, fee-only life insurance advisor focused solely on your best interests.
Led by credentialed actuary Scott Witt, our firm specializes in actuarial life insurance reviews, cash value policy optimization, wholesale life insurance pricing analysis, and independent policy guidance for high-net-worth clients. We help clients evaluate whether existing policies should be kept, restructured, replaced, sold, reduced, or surrendered based on actuarial analysis rather than insurance sales incentives.
Why Actuarial Expertise Matters
Most insurance reviews are performed by sales professionals. Witt Actuarial Services approaches policy analysis from an actuarial perspective focused on mathematics, long-term assumptions, and consumer value.
We Identify
- Excessive internal costs
- Unrealistic illustration assumptions
- Underperforming policies
- Better wholesale pricing opportunities
- Policy design inefficiencies
- Hidden long-term risks
For wealthy individuals with substantial insurance holdings, these differences can represent significant financial consequences over time.
Who We Work With
- High-net-worth individuals
- Families with legacy planning goals
- Business owners
- Trustees
- Family offices
- Attorneys
- CPAs
- Registered investment advisors
- Corporate executives
Many clients come to us seeking a second opinion on existing insurance recommendations or looking for truly independent life insurance guidance free from sales incentives.
Insurance, Annuity & Long-Term Care Consulting
Independent actuarial analysis for life insurance, annuities, and long-term care planning.
For clients with $100,000+ in permanent life insurance.
We evaluate:
- Existing life insurance policies
- Policy performance and costs
- Health, cash flow, and financial goals
- Alternatives and opportunity costs
- Policy loans
Potential recommendations:
- Keep current policy
- Modify policy to adjust premiums and/or death benefit
- Replace with a new life insurance policy
- Replace with an annuity
- Life settlement
- Surrender
New Life Insurance Design
Actuarial guidance for maximizing the value of your policy.
Services include:
- Commission minimization or elimination
- Policy design optimization
- Premium financing review
- Carrier and product selection
- Independent policy recommendations
Annuity Reviews
Analysis of fixed, variable, indexed, deferred, immediate, and longevity annuities.
We help determine whether to:
- Activate income riders
- Remove riders
- Adjust investment allocations
- Replace existing contracts
- Surrender annuities
Long-Term Care Planning
Independent evaluation of:
- Standalone LTC insurance
- Hybrid life/LTC policies
- LTC riders
We help determine whether long-term care insurance is appropriate and identify the most cost-effective solution.
Life Insurance Appraisals
Valuations for:
- Charitable contributions
- Gift tax reporting
- Transfer-for-value transactions
Insurance Expert Witness Services
Litigation support for insurance-related disputes nationwide.
Services include:
- Damages calculations
- Expert reports
- Expert testimony
- Plaintiff and defense engagements
Speaking & Education
Frequent presenter on life insurance, annuities, and long-term care topics.
Past audiences include:
- National Association of Personal Financial Advisors (NAPFA)
- Alliance of Comprehensive Planners (ACP)
- Garrett Planning Network (GPN)
- Financial Planning Association (FPA)
- Estate Planning Councils
- State Bar Associations
- Law and financial planning firms
What is the difference between Fee-Only vs Compensation-Based Insurance Advice?
One of the biggest concerns for affluent consumers is understanding how insurance professionals are compensated.
Fee-Only Insurance Advisor
A fee-only life insurance advisor is compensated directly by the client and does not receive commissions from insurance companies. This structure helps minimize conflicts of interest and allows recommendations to focus on client outcomes rather than product compensation.
Compensation-Based Insurance Agent
A compensation-based insurance advisor is generally compensated by the insurance carrier when a policy is sold. Compensation can vary significantly between products and insurers, which may create incentives that do not fully align with client interests.
Witt Actuarial Services can help you evaluate your options objectively and strategically. Our actuarial process is designed to help affluent clients make informed decisions with greater transparency, clarity, and confidence.
