Premium financing is a poorly understood program for financing high face value life insurance plans. It can be a great financial tool to those with high net worth trying to get a high value life insurance policy, which most of you know does require a very hefty premium. For example, a Universal Life plan that covers you till the age of 121 for a face value of $10,000,000 on a 65 years old
non-smoker male in good health may cost about $200,000 annually to maintain.
Not everyone has that level of liquid cash lying around to pay a life insurance policy premium.
Most high net worth individuals will agree that liquidating of funds or withdrawing capital from lucrative investments is a loosing proposition.
Once you qualify, you can receive Premium Financing without effecting your cash flow, liquidity or standard of living. In most cases, for very little money out of pocket an investment bank will commit to finance the life insurance premiums for the life of the insured. Upon receiving your application, we shop multiple financing institutions and bring you the offer for your approval. After that the life insurance application is submitted to the insurance carrier.
There are many premium financing companies offering various qualifying parameters. In general, we can start shopping for you if you are at least 60 years of age with a net-worth of about $2 million and looking for a minimum of $1 million dollars in coverage. This is subject to change based on what the market offers.
Give us a call in complete confidentiality.
LIFE INSURANCE QUOTES
Find the best rates for Term Life, Return of Premium Term and Guaranteed Universal Life Insurance plans. Compare top-rated carriers and save.
PLEASE NOTE: By law, agents and brokers offering life insurance products cannot charge fee for service from a client. Therefore, your premium is exactly what an insurance company quotes.