Premium financing is not actually buying an insurance policy; rather, it is a method a person can use to finance the purchase of an insurance policy. A contract is signed between a borrower and a lender, not a policyholder and an insurance company.
The buyer obtains a loan from a party other than the insurance company and signs a contract agreeing to repay the amount of the loan, plus any interest and fees.
For more information go to: Imperial Finance & Trading, LLC is a specialty finance company that uses advanced financing programs and structures to help our clients realize their financial objectives.
Filed under: Estate Planning, Life Insurance, Premium financing
