Tuesday, May 13, 2008
Program Provides Seniors with the Ability to Finance Life-Insurance Premiums For up to 10 Years
SAN DIEGO – July 12, 2006 – Ridge Capital Group, LLC today announced it is unveiling a new premium finance loan program to address the needs of both insurance carriers and insureds in the current life-insurance premium-finance environment.
Life insurance can be costly, requiring significant personal assets to pay premiums; however, high-net-worth seniors may not have available liquid means to pay high premiums that come with purchasing life insurance. Consequently, financing life-insurance premiums has become an important strategy. Ridge Capital Group, LLC, whose GraniteRidge hybrid premium-financing program was the first of its kind in the industry, is now offering its Flexible Premium-Finance Loan Program, which will be rolled out in phases to its distribution partners. The Ridge Capital Group Flexible Premium-Finance Loan is a premium-finance program, which provides high-net-worth seniors with the ability to finance life insurance for up to 10 years and offers clients a variety of flexible financing options.
“Our new premium finance loan program provides an extremely flexible structure with favorable terms which make it an ideal product for financing life insurance in today’s market,” said Justin Finemel, Ridge Capital’s chief executive officer. “Life insurance continues to be an essential component of personal and business financial planning for financial professionals with high-net-worth senior clientele. The Ridge Capital Group Flexible Premium-Finance Loan allows those clients with real needs for life insurance a variety of financing options to best fit their current situations.”
The Ridge Capital Group Flexible Premium-Finance Loan meets the needs of seniors who have large insurance requirements, large estates to preserve, illiquid assets they are reluctant to liquidate to make premium payments, or need a way to achieve life-insurance planning goals without significantly impacting their investment portfolios or business assets. These individuals may also have insurance needs in excess of what their cash flow can support at the time. It is not a program intended for people seeking free insurance and clients must have a verified need justifying the amount of insurance for which they have applied.
Ridge Capital Group has quickly become a premier source of premium financing, and is staffed with experts and is fully funded by institutional investment capital. Its programs are rich in benefits and options, and are designed to meet the needs of clients, insurance carriers, and producers and brokers. The success of the company’s products is a direct result of unique features offered and the level of service provided to agents and brokers. The management and professional company staff consist of individuals with years of experience in the insurance, finance, legal and capital markets industries. For more information regarding Ridge Capital Group’s premium finance programs, please contact Ridge Capital Group, LLC, 4542 Ruffner St., Suite 300, San Diego, CA 92111 or call Jimmy Trujillo at 858/427-4983.
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