Alaska LLCs Holding Private Placement Life Insurance & Private Placement Variable Annuities

Peak Trust Company provides administration services for Alaska LLCs created to hold Private Placement Life Insurance (PPLI) and Private Placement Variable Annuities (PPVA).

This service includes:

• Alaska LLC Formation: We handle the entire process of forming your Alaska LLC, including filing Articles of Organization with the State of Alaska and obtaining the Certificate of Organization. This ensures your LLC is established correctly and efficiently.
• Hiring Alaska Registered Agent: We will facilitate the hiring of an Alaska Registered Agent for your LLC account.
• Document Review: Our experts meticulously review all legal and ancillary documents associated with your LLC, ensuring compliance with relevant regulations.
• Application Kit Completion: We assist in completing and executing the Application Kit, streamlining the application process for your PPLI or PPVA products.
• Document Management: We take care of the logistics, whether it is emailing or shipping documents to the appropriate parties, ensuring timely and secure delivery. We provide complimentary 2nd Day Air shipping or equivalent for your documents. Overnight shipping is available for an additional fee.
• Premium Payment Management: We collect premium dollars, income, and loan proceeds on your behalf. Our team processes premium payments, pays entity-related expenses, and efficiently distributes funds to LLC members.
• Record Keeping: We maintain meticulous LLC records and provide comprehensive account statements that account for all transactions and assets. Transparency and accuracy are at the core of our services.
• Policy Maintenance: We execute necessary forms related to the maintenance of your policy as required, ensuring that your insurance or annuity remains compliant and effective.
• No Termination Fees: There are no termination fees associated with our services.
• No Wire Transfer Charges: Enjoy the convenience of incoming and outgoing wire transfers at no additional cost.
• Money Market Account: Upon opening an account, you will receive a complimentary money market account at Peak. All premiums and fees can be conveniently managed through this account.

Please note that we do not serve as Registered Agents for LLCs but can assist in facilitating the hiring of an Alaska Registered Agent for your LLC accounts.

Benefits of using an Alaska LLC to hold Private Placement Life Insurance & Private Placement Variable Annuities

• Alaska Insurance Premium Tax: A competitive tax rate of 2.7% applies to the first $100,000 of premium, with a reduced rate of 0.08% on premium amounts exceeding $100,000. (Note: This tax does not apply to PPVA.)
• Excellent LLC Statutes and Cost Efficiency: Alaska has superb LLC statutes. The use of an LLC to hold PPLI or PPVA can provide increased flexibility at a lower cost than a trust for the same purpose.
• Investment Flexibility: Using an Alaska LLC allows for flexibility in managing your PPLI investments. You have greater control over the assets held within the LLC, and you can choose how to invest and allocate funds, potentially leading to better returns.

Have questions or would like more information? Our team is here to help.