life insurance premium financing securing credit
How to secure financing in light of the current credit markets.
Securing a premium finance loan in today’s credit environment requires more due diligence than in the past from both the lender and the producer. Producers and advisors are recognizing that there is more to recommending a premium finance strategy than just the discounted outlay. Among the myriad of lenders and the loan programs they offer, it has become more difficult to ensure that the best loan program is being recommended to the client without being aware of the other programs that are available. Producers and advisors are freely accepting this liability without fully understanding that it exists.
There are many loan program promoters, but only a few organizations dedicated to providing premium financing direction to the industry. Still fewer are companies capable of providing custom financing designs that can be used for estate and business planning and are also recognized as experts. CMS – Succession Capital Alliance continues to be viewed as experts in the industry. The loan program they offer is the Capital Maximization Strategy, or CMS. CMS continues to be the largest and longest running traditional premium financing program and is endorsed by many reputable life insurance carriers. A key strength in CMS – Succession Capital Alliance is not just limited to experience, but their due diligence in selecting the best suited loan program among their multiple lender platform.
The tightening of credit within the industry has further strengthened traditional premium financing as a valid tool in purchasing life insurance. Know your client, and choose your expert when it comes to premium financing to ensure you have all your bases covered.