When high net worth clients are in need of premium financing for their life insurance coverage, you know how important it is to get the deal done right. Using this relatively new financial concept, however, may require the help of a specialist who can assist you in moving the process along and can ensure that all of the specific steps are being followed correctly.
Requirements for life insurance premium finance loans can be intricate, so getting deals done in the proper manner will typically require a great deal of focused preparation. In many ways, these transactions can be time consuming and intricate. So, finding an expert partner who can walk with you and your client through the process from start to finish can yield positive results for all who are involved.
Premium Financing Rules
As you are certainly aware, the life insurance industry is rife with many detailed rules and regulations ? and these can often change quickly. The premium financing sector is no different, so knowing the correct steps to follow can truly be an advantage in getting your deals closed quickly and accurately.
Your time is valuable ? and it can likely be much more productively spent working with clients. This is why it makes sense to work with a partner in your premium finance deals that is well versed in both the legal and financial components of this complex industry as well as the various strategic transactions that can be implemented.
Planning Strategies Using Life Insurance Premium Financing
Today?s high net worth client is concerned with protecting their valuable assets, both personal and business. Many of these individuals have life insurance coverage needs well in excess of $1 million. This being the case, premium dollars may be difficult to come by for these individuals due to lack of liquidity.
The ability to pay these premiums could require your clients to unwillingly sell off important assets for obtaining the needed cash, or they may simply decide to reduce the face amount of coverage in order to lower the premium amount that is due. Neither of these options, however, will ultimately provide the true benefit that your clients require.
The advantages of your clients obtaining a high face value life insurance policy are obvious to all. So where do you turn to get them the help they need in coming up with the necessary cash to make the large policy premium payment without the need to liquidate other assets?
The answer is to borrow the funds through a life insurance premium finance loan. Most wealthy individuals are well aware of the concept of leverage. By borrowing the necessary funds for paying a high dollar life insurance premium, your clients can obtain the amount of policy coverage that they need, without having to give up other assets in the process.
Moving Your Clients Through the Premium Financing Process
One of the best ways to assist clients with these needs is to partner with a premium financing company. These specialists in the premium finance area will arrange all of the necessary funding aspects of your deal, and oftentimes these same companies will also be the provider of the premium finance loan itself.
Once the loan is in place, the partner company will make the life insurance premium payments to the issuing insurer, and subsequently the loan repayments from the client will be made directly back to the premium finance company.
The entire process of quoting, applying for funds, ensuring the accuracy and completeness of paperwork, abiding by the rules of the insurance department and the state, and the actual funding of the deal are all handled by the premium financing company. This can make your job a whole lot easier.
Where to Turn For Expert Advice
Life insurance premium financing deals can require a number of important steps. If even just one is missed, it could delay the closing of the deal or may even negate it altogether. For this reason, having a team of experts behind you can help to keep things on track so you can concentrate on bringing in more business.
The specialists at Capital Premium Financing, Inc. are here to help move your deals through, and will regularly inform you and your clients regarding its progress along the way. In this extremely specialized life insurance niche, premium finance agreements can differ from state to state and company to company. Putting these details in the hands of the specialists can make these details go much smoother.
How to Close More Deals With Capital Premium Financing, Inc.
Capital Premium Financing Inc is a specialty lender that provides financing for large life insurance plans. The company serves customers across the U.S. With more than two decades of experience in this particular field, Capital Premium Financing has been recognized as a leader in service as well as in being a trusted partner in the life insurance premium finance arena.
The team at Capital Premium Financing collectively possesses over 150 years of experience in areas such as financial institution regulation, commercial banking, and investment portfolio management. With the backing of such expert knowledge, the Capital Premium Financing team can guide you and your clients seamlessly through your transactions.
The company offers agent tools directly on their website, so that you can easily keep track of your deals as they move through the process. You can quickly find a local representative by filling out your location information on the website.
Regardless of your needs, assistance is available via phone, email, and live online chat, so help is always just a call or a click away. To get additional information on how Capital Premium Financing Inc. can help take your life insurance premium finance business to the next level, visit:
?
Capital Premium Financing, Inc.
12235 South 800 East
Draper, UT 84020
Or
2931 Kerry Forest Pkwy #103
Tallahassee, FL 32309
Customer Service / Operations: (801) 571-0775 / Toll-free: (800) 767-0705
Agency Relations / Quotes by Phone: (877) 730-1906
info@capitalpremium.net? / agencyrelations@capitalpremium.net
www.CapitalPremium.net / www.capitalpremiumfinance.com
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