Premium Financing

Level 1: The Basics

Meet the Instructor

Tim Whitmore has been partnering with agents, RIAs, CPAs and attorneys doing premium financing for over 20 years.  Learn a bit about him and what the university has in store for you.

https://youtu.be/e9yMN5sWeG8

What it is and how does it work?

This is just the first of over twenty videos covering everything from case design, carrier selection, overcoming objections, developing center of influence and much, much more.  Basically, it is everything you need to help you see more qualified prospects and close huge cases.
In this first video we cover the basics: what premium financing is, where it is used and how it is placed.https://youtu.be/vfHrWoJFRJM


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History of premium financing

Premium financing has been around for over 30 years for P&C business and over 20 for life insurance.  In this video we discuss the history of premium financing from pre-IUL days, through the IOLI and STOLI days, to present day and the programs in today’s marketplace.

Designing a case

“It’s all in the design”.  5 pay. 7 pay, 10 pay? IUL, whole life, GUL?

With all the products and possibilities what is the best way to design the policy for success?

In this video we explore those questions and provide answers.




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Choosing the correct carrier and lender

Building on our last video on designing, we discuss the other parts of putting together a premium financing design.  Choosing the correct carrier based on the client’s goals along with the best lender based on their financials is paramount in achieving the client’s goals. 

 

From design to funding, what to look out for

Just like Chutes and Ladders, premium financing can have some pitfalls if not properly planned for.  Carrier assignments, pledge agreements,  security control agreements, collateral calculations, just to name a few.  

In this video we cover them all and how to plan, and avoid them.

 


Income designs, life insurance as an asset class

In this video we explain how premium financed designs for income sales can increase the benefits when compared to paying premiums out of pocket.  Internal rates of return at life expectancy of 12% or greater are achievable. 

Whether for individuals seeking tax advantaged income or used in executive compensation plans, IULs with premium financing can be a attractive strategy.

Business uses

In this video we explain how premium financed designs for income sales can increase the benefits when compared to paying premiums out of pocket.  Internal rates of return at life expectancy of 12% or greater are achievable. 

Whether for individuals seeking tax advantaged income or used in executive compensation plans, IULs with premium financing can be a attractive strategy.




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Assessment

Download this handy assessment guide to make sure you grasp the fundamentals of the PFU program thus far. Keep an eye open for the link to Level 2 of our Premium Finance University!

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