Premium Financing

What you need to know about Premium Financing

What is it?

Just as the name implies, premium financing is a method of purchasing life insurance with little or no out-of-pocket costs.

Who should consider premium financing?

Premium financing is best suited to individuals with high net worth (at least $3 million) who have the need for a large amount of life insurance – whether for their heirs, estate planning, business needs, or favorite charity.

Why would someone consider premium financing?

Premium financing provides a means to pay for life insurance premiums while retaining current income, assets, and investments for use elsewhere thereby eliminating opportunity loss. It provides the best of both possible worlds for the insured – they are able to retain current assets and receive large life insurance coverage as well. In addition, there may also be potential gift tax savings.

Why choose Richard S. Bernstein & Associates?

We specialize in the affluent marketplace and have been active in premium financing since its inception. We work only with institutional lenders and buyers. Our professional, caring, experienced team will review your needs, obtain the best underwriting offers with the best insurance carriers, and will pair you with the most reputable and innovative lender to meet your needs.

If you would like for a financial planning advisor Palm Beach to examine your individual needs, offer our expert advice, and give you a quote, please fill out the box above to contact us today to speak with an estate planning advisor Palm Beach.