Premium finance offers your high net worth client the ability to obtain the life insurance they need while, at the same time, deferring the high cost of premium payments.
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Capped Rate Loan
Product Details
This loan caps the interest rate and spread on an annual basis that the borrower would have to pay out of pocket. Once the cap has been determined, the client pays yearly interest based on the 12 month LIBOR plus a competitive spread. If the interest rate increases above the predetermined cap, the borrower pays only the cap rate. A.I. Credit compounds any interest above the cap rate into the principal of the loan.
A.I. Credit Loan Products:
- All loans are underwritten for the life of the insured, regardless of age.
- Client has yearly option to have A.I. Credit advance the premium or pay it themselves.
- Our Rapid Review means a simpler, smarter annual process. As long as there has been no event of default and our other review conditions are satisfied, A.I. Credit will advance the next year's premium.
- No required revenue sharing. A producer with the necessary knowledge has the option to work directly with A.I. Credit.
- Properly structured transactions that meet A.I. Credit's requirements may be completed without a Personal Guarantee.