What is life insurance premium financing?
When a bank lends money to pay the premium associated with a life insurance policy.
Who is a good candidate for premium finance?
A person with a bona-fide insurance need who has liquidity concerns or constraints may be a good candidate for premium finance.
Who is a good candidate for the Ridge Capital Group premium finance program?
An individual who has a bona-fide insurance need. If that individual is 70 years or older, has assets totaling $2,500,000, desires at least $2,000,000 of life insurance, and has liquidity concerns or constraints, that individual may benefit from a Ridge Capital Group premium finance loan.
How long is your loan term?
The Ridge Capital Group Flexible Premium Finance Loan has a maximum term of ten years. The borrower retains control of the loan and can repay the loan at anytime during the 10 year term, subject to the terms of our Premium Finance Loan Agreement.
Who owns the life insurance policy?
An irrevocable life insurance trust is established as the owner of the life insurance policy.
What type of life insurance policy can people finance with Ridge Capital Group?
Ridge Capital Group only finances single-life Universal policies at this time.
How do I get started with a Ridge Capital Group Flexible Premium Finance Loan?
Contact us! We welcome the opportunity to discuss your case and assist with your premium finance needs.