Premium financed plans being sold?

al3 · 09-22-2007, 06:35 PM

Insurance Agents Need to Write Big Premium Financed Policies

I thought this was still a year or two away due to regulators, etc. Guess not.

Al

Mr. Bill · 09-23-2007, 10:41 AM

There is a difference between a couple of old hags in Santa Monica taking out insurance policies on homeless people and then murdering them (that would be stranger-owned life insurance) and premium financed.

Macdaddy · 09-23-2007, 04:49 PM

These are legal, and being done every day. I submitted a pre-application last week to see if a 71 yo friend of mine would qualify. Some can be done in 5-6 months, some 2 years. Occasionally if the individual is old enough (78-80) the policy will be sold immediately. That aspect depends on the life expectancy report.

I have a friend that did 3 last year and it netted him six figures. Hedge funds and life settlement companies are the buyers.