Premium financing is simply financing the premiums of a life insurance policy with a large death benefit of $10 million or more. It is a permanent solution if you need a large death benefit for estate tax purposes. You see the value in financing the premiums rather than paying for them.
Every premium financing program is structured differently, because the
needs of each individual are unique. However, almost all programs have a basic
structure that they follow. For personal protection, the lender always has a
relationship with an Irrevocable Life Insurance Trust, set up by the insured.
The lender loans premium payments to the ILIT, and the ILIT, which acts as
owner and beneficiary of the life insurance policy, pays the premiums. At The
Buckley Group it is our years of experience and unparalleled relationships that
make navigating these many moving parts as seamless as possible.
Contact us to manage the premiums on your life insurance policy.