Life insurance has long been an important aspect of estate planning, creation, and conservation.  Unfortunately, many seniors are unable or unwilling to use life insurance as an estate planning tool because of the high cost of annual premiums. As a result, if a client is interested in obtaining a life insurance policy they are forced to liquidate available assets or take out a loan in order to finance to policy.  Fortunately, specialized premium financing is available to negate the prohibitive costs of traditional financing options. Through specialized premium financing, a qualified senior can obtain life insurance coverage, up to his or her insurable net worth for a period of 24 months with no out of pocket expenses.  At the end of the 24 month period, the client has the option to either keep the policy and begin financing it themselves or sell the ownership rights of the policy in a secondary market.

• Survivor Protection – provide funds for minor children and other dependents
  
• Estate Creation – provide large sums of money to establish trusts or purchase annuities for loved ones
  
• Estate Conservation – provide funds to pay estate taxes, satisfy creditors, and pay final expenses
  
• Life Settlements – provide immediate funds to supplement income, finance health care, gift to loved ones, satisfy creditors, and instantly create an estate

• Insured experiences large out of pocket expenses
  
• Insured is forced to liquidate assets such as real estate property or family heirlooms
  
• Insured is forced to put up assets as collateral in order to obtain financing

• No out of pocket expenses
  
• Maximum coverage of high quality life insurance provided by a top rated carrier
  
• No liability or obligation to pay premiums or any related costs for the full term of the policy

A life settlement is the sale of the ownership rights to an existing life insurance policy by the policy owner in exchange for a lump-sum amount usually three to five times more than the current cash surrender value.  The purchaser becomes the new policy owner and pays all future premiums.  The settlement amount varies depending on the policy conditions and the age and health of the insured.  Once a policy is sold, the proceeds from the sale are immediately available for use by the insured.  The funds may be used to establish a trust for loved ones, purchase an annuity, or pay for estate taxes and other final expenses.