National Premium Finance

Contact Premium Finance Life, they are currently offering free consultation and will provide answers to all your life insurance premium finance questions.

Including but limited too:

Who is a prospect?
How do I best meet my clients life insurance needs?
What are the different categories of premium financing?
Which concept should I be using for my specific client?
Which lender has the best package for my client?
What ,if any, collateral will be required?
How does charitable giving fit in?
Is there a secondary market value to my clients policy?
How is the loan paid off?
What is the exit strategy?

An experienced representative can also walk you through the process so you can feel comfortable presenting premium finance products to your client base.

Call 1-888-973-8377.

SB 1224 is intended to provide regulation for Stranger Originated Life Insurance “STOLIs”, which is the practice of initiating a life insurance policy for the benefit of a third party investor who has no insurable interest in the insured.

SB 1224 enacts the Life Settlement Consumer Protection Act of 2008 which does the following:

Prohibits STOLIs in California by providing that beneficiaries that do not have an insurable interest in the life of the insured violate existing insurable interest laws.  STOLI is defined as “an act, practice, or arrangement to initiate the issuance of a life insurance
policy in this state for the benefit of a third-party investor who, at the time of the policy origination, has no insurable interest in the life of the insured.” Additionally, there must be an arrangement or agreement to directly or indirectly transfer the ownership of the policy
to a third party.

These regulations will not prevent life insurance premium financing in the state California. This will only help stop some of the shady practices with Stranger Owned Life Insurance Policies.

Premium Financing will continue to provide a tremendous benefit to consumers.

Read more about SB 1224 Life Settlement Regulation at Life Settlement License.

Apparently a company called Survey Trust is contacting seniors and requesting personal info including everything from ss number to health records. they claim it is just a survey for which the participant is actually paid up to $1,000…and $250 per month for life…sometimes the offer a scooter, etc. In the end, the scammers invoke a Durable Power of Attorney which requires release of the Death Certificate upon scammed persons death…they use this to claim death benefits…see www.kcra.com (Sacramento, CA channel) and search for “STOLI” (Stranger Oriented Life Insurance) for info on this. apparently it is technically not illegal, so best that can be done is to warn seniors.

The reason we posted this is that sometimes STOLI is associated with premium financed policies. However, premium financed policies can be structured that are both beneficial to the clients and approved by the insurance carriers. Just a heads up.

We have seen the playing field change in the Life Insurance Premium Finance the last few years. A new key ingrediant to the success of premium financing is having the carriers approve the financing relationship. This is not a tough task, and will continue to open to the door to more financing revenues.

Lots of high net worth ($3,000,000 and above) senior citizens (68-86) find the need to purchase a high face value life insurance policy to protect their family or for the purpose of estate planning. Individuals who in possession of major assets who does not wish to liquidate their properties and investments to pay expensive life insurance premiums now have the opportunity of having their premiums financed through a Carrier Approved Life Insurance Premium Finance Program. By having a major bank pay the life insurance premiums, the insured frees up his assets to be used more proficiently in other places. With no (or very little) out of pocket expenses, personal guarantees and minimum financial risk a qualifying person can give millions to his family in the form of a death benefit. Using Carrier Approved Life Insurance Premium Finance Program also lowers out of pocket expenses and potential gift taxes.

Premium Financing is usually associated with Life Settlements, however there are other options. They include repaying the financed loan, walking away, or extending the loan term*.

* Different products offer different terms.

Call  1-888-973-8377 to speak with a Premium Finance Specialist.

Need more Life Settlement Information? Visit:
Life Settlement Info

Premium Financed Life Insurance  - 1-888-973-8377

This may be a very effective tool for you and your clients. At Asset Protection Planners we have the resources to provide you and your clients with all the tools to assure the most optimal terms for their insurance and financing.

This strategy is utilized by high net worth individuals between the ages of 65 and 89, with net worths of $1 million or more. Their ability to qualify for a standard or better insurance policy, their age and amount of assets coupled with their “insurance capacity” drives the premium financing potential.

Premium Financing is actually pretty simple: Instead of paying cash to fund a life insurance policy, a bank lends the money to pay the premium and the bank can later repaid from the death benefit, from a life settlement, or directly from insured or family. This allows the purchaser to acquire an insurance policy without having to actually put up cash. The bank’s loan can either be collateralized by other assets of the purchaser or not, many times the policy is the collateral. This can be used in estate planning, charitable giving, planning for long term care, increasing the overall net worth, or replacing under-performing policies, to name a few. This may be another product to add to you portfolio in meeting all your clients needs.

Welcome to National Premium Finance. We assist seniors and financial professionals in their search for Life Insurance Premium Financing. Our firm can match your individual and client needs with a proper premium finance product.

Not only do we offer premium finance products, we will also be providing reviews, articles, news, testimonials,  and other information related to the industry.

Call today 1-888-9738-8377, to speak with a Premium Finance Specialist.

We have gladly partnered with following sites:
Premium Finance Life
Florida Premium Finance
Life Settlements
Reverse Mortgage Lender