The Insured Retirement Advantage® redefines the application and potential benefits of life insurance premium finance. Customarily the financing of premiums has been reserved for higher net worth borrowers – who have the asset base, income and risk tolerance to manage sophisticated transactions. The Northstar I.R.A.® is a unique solution that delivers financing to a customer segment that typically would not qualify for traditional loan arrangements. The I.R.A.® offers an ultra-competitive interest rate spread and all the core features of large-case financing.
- Borrower can define the situs of the loan
- Policy ownership defined by the planning scenario
- Streamlined underwriting process
- Annual out of pocket cost range from five to ten years
- Customized loan modeling
- Consumer level brochure and explanatory material
- Loan is projected to be fully collateralized exclusively with policy cash surrender value – no illustrated gap collateral!
We will compare/contrast the loan with traditional designs and take a detailed look at a sample case.