PremFinance is a unique life insurance premium financing program. It enables clients to obtain large face value life insurance policies, without impacting their liquidity, cash flow, or lifestyle. With only minimal risk, individuals who qualify for our Premium Finance Program can bequeth millions of dollars to their families in the form of a life insurance death benefit. Our Premium Finance Program involves no out of pocket expenses and no personal guarantees. If you qualify for the program it is a convenient way to provide money for your loved ones.
As a successful business owner, you have created substantial wealth over your lifetime. Even so, you may not have the liquidity available to purchase a high face value life insurance plan. Moreover, it may not be wise to sell assets for liquidity due to the tax liability that would be incurred.
With our unique, flexible and non-recourse Life Insurance Premium Financing Program, you can now create substantial liquidity for your family. These funds can be realized with no financial burden, no out of pocket expenses, minimal gift or estate taxes and no hidden costs or fees of any kind – all without tying up valuable cash in the form of insurance premiums. The loan is entirely non–recourse with no personal guarantees and only minimal collateral is necessary. Loaned premiums and accumulated interest will be deducted from the death benfit with all the substantial remaining value given directly to your family. The program offers a flexible financing facility that allows clients to choose from a variety of design options, including low interest rates and the ability to include advance payment options.
Take the opportunity to secure millions of dollars in benefits for your loved ones with only minimal risk, no out of pocket costs and no personal guarantees.
Using traditional or creative collateral, we secure the loan to finance the life insurance premiums. Example collaterals range from real estate to stock holdings. The interest rates are determined on the strength of the underlying collateral. Our life insurance premium finance loan repayments are flexible with no fees or prepayment penalties. At the end of the loan term, the insured can decide whether to continue coverage. Should the insured choose at that point to end the coverage then he has the option to hand over the policy to the lender as a full repayment of the premiums and interest.
If the insured passes away while the loan is still in force, the loan and interest will be deducted from the death benefit and 100% of the remaining payment will go directly to your family and beneficiaries.
All loans in our Life Insurance Premium Finance Program are given by a publicly traded, state chartered bank that is a member of the FDIC. Since the bank is subject to FDIC oversight it guarantees the stability of the Life Insurance Premium Finance Program. The Financing Bank has developed a new premium financing program which has been approved by many insurance carriers.
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