HAVE YOU CONSIDERED THE OPPORTUNITY TO HAVE YOUR PREMIUMS PAID BY A PREMIUM FINANCE COMPANY?
You may be able to obtain a new life insurance policy and have the premiums paid through a life insurance premium financing program with no out of pocket cost. Many seniors have taken the opportunity to finance a new life insurance policy as part of their financial plans, present and future. By borrowing to make premium payments, insurers may have the ability to obtain new policies without depleting cash reserves or investments while attaining their full insurability which includes illiquid assets such as real estate. There are a number of premium finance companies in the marketplace competing to finance new (and existing) life insurance policies and provide a valuable service to the senior market.
WHY PREMIUM FINANCING?
Premium financing a life insurance policy can offer many benefits to insured with various financial plans and goals that see the value in borrowing to make their premium payments.
- No need to liquidate high performing investments.
- Keep cash on hand.
- Ability to access full insurability based on total net worth including illiquid assets.
- Maintain current cash flow.
- Part of an estate tax plan.
- Provide a legacy benefit.
While there are many premium financing companies each having their own set of qualifying parameters, generally an individual over the age of 68 who wishes to obtain a life insurance policy with a death benefit of $1 million or more may qualify though there are some programs designed for seniors age 60 and up.
Call Wealth Assurance today for more information! 800.670.5201