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Continuation of Coverage In Bankruptcy Provision
This provision requires an insurance company to provide coverage even if an insured has declared bankruptcy.
Insurance Industry News from ProgramBusiness.comFinancing Life Premiums
Storefront owner Premium Finance offers premium financing for life insurance and suggests that there is a right way and a wrong way to finance a life insurance policy. Then, there's the best way.
Life Insurance Premium Financing is one of the hottest topics in the life insurance industry - and among the most controversial.
In recent years, premium financing has evolved as a valuable tool for high-net-worth individuals to purchase the appropriate amount of life insurance - the amount they need - allowing them to then execute strategies to transfer wealth.
Premium Financing lets clients with significant insurance needs finance payments with little or no out-of-pocket costs and without the need to liquidate high-yielding assets to make policy payments. They can do this by using a combination of their life insurance policies and other assets as collateral.
Premium Financing Done Right:
Is sold to high net worth consumers who need death benefit as a solution for federal estate taxes and wealth transference planning.
Is fully transparent with everything disclosed to the life insurance company, who are our partners... not obstacles to circumvent in the financing process.
There are NO upfront payments of any kind. There are NO investors or strangers involved in the program.
We are approved with the most carriers for premium financing.
The lender has NO ownership of any kind in the policy if the loan is paid off and will never participate in any manner on the settlement of the policy.
The intent of the insured is to finance life insurance for death benefit needs, not to sell the policy to generate a profit.
Legal opinions are issued by nationally recognized law firms for every loan made by lender on insurable interest and the loan structure.
For more information, visit their storefront at www.programbusiness.com. ://w<Click for the whole story...