Updated: Aug 13, 2021
Premium finance is a unique strategy that can keep your estate and heirs funded for years to come with no out-of-pocket costs. You can choose what happens to your policy when it matures: leave it for family, set up a charitable donation, or create a tax free retirement income plan... still with nothing out of pocket.
Premium financing is the lending of funds to a person or company to cover the cost of an insurance premium. Premium finance loans are often provided by third party finance entities known as premium financing companies; however insurance companies and brokerages occasionally provide premium financing services through premium finance platforms.
Any interest accrued on the loan is covered by the policy pay-out, with the remainder being left to beneficiaries and/or the charity of your choice.
Are you ready to learn more about the benefits of premium finance? Contact Barry Oxford at www.bdo-financial.com/about or call BD Oxford Financial Incorporated at (805) 434-6971.
BD Oxford Financial Incorporated
Serving Clients Nationwide