Premium Financing Life Insurance

Premium Financing Life Insurance

Premium financing is a process of borrowing money to pay life insurance premiums.  I know this sounds strange, but there is a perfectly good reason behind the idea.  I’ll forewarn you, however, that this good idea only takes flight among those with substantial assets. Financing life insurance premiums works to minimize the net out-of-pocket cost …

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IPB 061: Life Insurance Premium Financing

It’s honestly a bit shameful that we produce a podcast for well over a year that has life insurance as its primary subject and we’ve yet to discuss the subject of life insurance premium financing. Well, that stops today. With one caveat… Please keep in mind that this is a complex topic with many moving parts and we …

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Premium Finance Life Insurance Problems

Premium Finance Life Insurance Problems

Premium finance life insurance requires the policy owner to get a loan from a bank to pay the premiums on his/her policy.  The strategy works to reduce the net cost of buying an extremely large life insurance policy, and wealthy Americans use premium financing for this very purpose.  There are, however, times when unscrupulous insurance …

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Buying Life Insurance with Leverage

Buying Life Insurance with Leverage

In the interest of building newer and sexier ways to lure you into buying life insurance, agents and marketing organizations think it would be super nifty if you harnessed the extra buying power of a bank’s money to make the policy you can buy even bigger!  The idea looks something like this, buying more life …

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Should you Hire a Fee-Only Insurance Advisor?

Should you Hire a Fee-Only Insurance Advisor?

Fee-only insurance advisors provide advice on insurance-buying decisions free of the potential conflicts posed by commissions.  Fee-only advisors receive compensation through a fee you agree to pay them for their work.  In exchange for their fee, these advisors will review the facts of your specific buying situation, insurance proposals you received from agents, and make …

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3 Legitimate Reasons NOT to Buy Whole Life Insurance

whole life insurance may not always be the best thing

 In our last post and podcast episode, we compiled the 5 Reasons Whole Life Insurance is a Bad Idea…According to the Internet. To show you that we are fair and balanced when it comes to the pros and cons, we thought it appropriate to discuss some of the scenarios or circumstance where whole life is legitimately …

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Decreasing Term Life Insurance

Decreasing Term Life Insurance

Decreasing term life insurance is a special form of term life insurance designed to cover a borrowing obligation.  It’s rare for life insurance agents/brokers to sell this type of life insurance.  Instead, loan officers such as mortgage brokers and F&I managers at car dealerships are the people who traditionally sell this type of life insurance. …

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Is Whole Life Insurance Good or Bad?

Is Whole Life Insurance Good or Bad

Whole life insurance is both good and bad depending on the need of the individual and how well whole life matches that specific need.  For some people, whole life insurance is an incredible tool used to accomplish one or several goals.  For others, it’s a complete mismatch and will provide little more than disappointment.  By …

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