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Premium Finance
What is Premium Finance?
The Process
Borrow money from a comercial lender.
To pay for life insurance premiums.
The policy owner borrows money from a Financial institution to pay for life insurance premiums.
1.
Policy owner pays interest to the bank and deposits collateral.
2.
The loan is repaid with a policy distribution, other assets or both.
3.
Upon Insured death, the death benefit will be paid to beneficiaries minus any outstanding loan.
4.
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