Simply put, Premium Financing is a strategy that borrows the required premiums to purchase a large life insurance policy. Premium Financed Life Insurance has been around for decades and has enabled high net worth clients to purchase the life insurance they need to cover estate taxes and provide sufficient estate liquidity without forcing them to liquidate assets to pay for the policy. Premium financing leverages one’s current estate to secure the life insurance they need with minimal out-of-pocket costs.
If you are considering premium financed life insurance as a part of your overall estate planning and wealth transfer plans, there are several potential benefits. A well-structured premium financed life insurance policy:
Wealth Planning Network is Chicago’s Premium Financing and Life Insurance Experts. We have extensive experience helping high net worth clients create and implement wealth transfer strategies that minimize risk and maximize their estate. As with any wealth transfer or estate planning strategy, it is important to work with an expert that specializes in designing and implementing these policies. Wealth Planning Network has the expertise, experience, and professional resources to properly implement this type of estate planning strategy. We work with the nation’s premier lenders and insurance companies to ensure that our clients receive the most competitive insurance policy, and the best lending rates.
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