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The amount at risk is the protection portion of a Life insurance policy and is determined by subtracting the cash value from the face amount. As premiums are paid, the amount at risk decreases and the cash value increases.
Insurance Industry News from ProgramBusiness.comFinancing for Hurricane Expenses
InsurBanc, the trusted and respected full-service financial services provider to the Independent Agency community, announced today that they have put together a special loan program for qualifying agency principals affected by Hurricane Katrina.
Realizing that Independent Agency owners affected by the hurricane may have special financing needs over the next several months, InsurBanc is offering special pricing on short-term loans for hurricane-related expenses. InsurBanc will offer this assistance to Independent Agents who have been financially impacted in the states of Mississippi, Alabama, Louisiana and Florida.
“The hurricane had a devastating effect on thousands of people,” said Robert A. Rusbuldt, CEO of the Independent Insurance Agents and Brokers of America (IIABA). “InsurBanc’s loan program will help minimize the financial impact on Independent Agency owners who are feeling the effects most closely, so that they can start getting their lives and businesses back to normal.”
Rather than having to tap into personal money, credit cards, or wait for other emergency funds to become available, this program will help qualifying agency principals get back to work immediately with a simplified loan process.
"Our unique expertise in agency financing allows us to offer these loan products quickly and inexpensively to qualifying agency principals to help them get back to serving their clients insurance needs,” said InsurBanc Executive Vice President Bob Pettinicchi.
For more information about InsurBanc’s special loan program, call 1-866-467-2262 or
Headquartered in Farmington, Conn., InsurBanc is the operating subsidiary of Peyton Street Independent Financial Services Corporation, a thrift holding company jointly owned by IIABA and W.R. Berkley Corp. and its subsidiaries. Organized in 2001, InsurBanc is a federal savings bank, the deposits of which are insured to applicable limits by the FDIC.
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