Premium Financed Life Insurance Sales Made Easy
January 29, 2009 - Back to Deck's Page
Premium Financed Life Insurance Sales Made Easy
Take a brief look at just how easy it is to use permanent universal life. The cash flow required is extremely attractive compared to paying premiums for the next several years. Our example demonstrates how premium can be financed and yet the policy will pay off the loan in the future and allow the client to walk away with the original face amount of coverage in force.
Here are some of the advantages to the premium finance concept.
1. The premium can be financed by a local Indianapolis-based bank with current interest rates of 2.75%. This loan will commit to covering all 10 years of anticipated premium needed in order to finance the policy for a lifetime.
2. This policy can develop extremely high first-year cash value, thus eliminating nearly all of the requirements of outside collateral.
3. In almost all cases, the policy generates enough cash to cover paying off the loan in the event the client decides to drop the insurance policy.
4. This concept will pay the normal first-year commissions for developing a policy with extremely high first-year cash value.
In order to receive a quotation on how to insure keyman, executive coverage, or simply large amounts of personal coverage, please contact Meghan McCormick at 800-732-1489, ext. 216 or
meghan.mccormick@insourcemg.com.