By partnering with ACA, you will be transferring much of the responsibility to our specialists in terms of collecting clients’ / borrowers’ information, submitting the application paperwork, arranging the premium payments to the issuing insurance company, annual renewals and ongoing administration.
Our in house CPA assists with personal financial statements, third party verified financials and all other tax concerns. Our in house attorney’s help structure the Trust that will house these policies protecting them from taxation and creditors. Additionally, they can consult on your clients overall financial and estate needs or assist their existing counsel on incorporating this planning into their financial future. And our in house CFA provides index allocation suggestions from conservative, to aggressive to every hue in between.
We provide a full suite of marketing materials to assist you in your process of acquiring new clients and servicing existing clients with the prospect of premium finance.
There are many details that are involved when transacting these types of arrangements and because there are a variety of state mandated rules and regulations, all individuals and organizations that work with premium financing agreements and the loaning of such funds are required to be licensed in all of the states in which they do business.
Passing along all of the intricate and somewhat cumbersome details to an expert in this field can provide a win-win-win situation for all. Your client will be able to obtain the appropriate amount of life insurance coverage for their needs without the need to come up with a large amount of premium payment and you have been able to close yet another high face amount life insurance policy transaction.
Why Premium Finance Helps Close More Life Insurance Cases?
When working with wealthy clients, these individuals oftentimes have a need for large face amount life insurance policies. There are some potential policyholders, however, who may not possess the adequate amount of liquid cash to pay the large up-front premium amount that is often due (asset rich and cash poor).
As you may be aware, premium financing arrangements are a great solution to this issue – and in using such arrangements, you are helping clients to find the cash that they need and you are in turn likely to close many more of your high dollar life insurance policy cases.