PREMIUM FINANCING

Life insurance plays an important role in estate planning and wealth generation. It is an effective means to help preserve, as well as grow, assets. However, the cost of self-funding the premiums, especially at older ages, can be prohibitively expensive. Prospective insured's should be aware that there are alternatives to using their funds to pay for insurance. Premium financing allows high-net-worth individuals to purchase an insurance policy without paying premiums out-of-pocket. A lender or bank will lend the money to the policy owner for the insurance premiums. The policy owner is usually an irrevocable life insurance trust (ILIT). The trust will then purchase a policy on your life. Your family or any other designation of your choice is the beneficiary of that trust. The insurance premiums can be financed for a minimum of two years or a maximum of the life of the policy.

Enjoy The Premium Benefits Of Premium Financing

Premium financing is a proven wealth-preservation strategy that the affluent have utilized for decades. The ability to purchase life insurance while deferring the cost is an intelligent way to leverage your net worth and maximize your assets. With premium financing, you can claim the benefits of life insurance while preserving your financial health.

Are You A Candidate?

With premium financing, there are certain requirements for eligibility:

• Candidates should generally be age 70 or greater.
• Insured must be healthy enough to qualify for new insurance.
• A minimum net worth of $3 million or more is required,although some new programs allow for a net worth of $1 million or more.

The requirements are selective because the rewards are significant. Premium financing is both a smart idea and a sound investment in your financial future.