Premium financing in Orlando and throughout the country has become a very important topic in the insurance industry. Premium financing of life insurance is a way for high-net-worth individuals, especially the age of 55 and over, to obtain the life insurance coverage they need without having to divest high yielding assets.
Life insurance premium financing is a tool, offered from a premium finance company, that an individual with substantial assets uses to cover the upfront costs and premium payments on a life insurance policy. Individuals often choose this course if they require a large amount of life insurance and do not want to pay the out-of-pocket costs. Premium financing makes the most sense when an individual wishes not to liquidate high yielding assets to cover the costs of a life insurance plan.
Most premium financing policies require at least $2.0 million in net worth and $100,000 a year in net income. The person insured under the life insurance policy has the option after 24 months to pay off the loan and maintain the insurance policy or they can retire the policy in a life insurance settlement.
Filed under: Premium financing | Tagged: financing premium Orlando, FL, Fl premium finance, life insurance beneficiary Orlando, primium finance company Orlando, primium financing in orlando
