It is now possible for high net worth individuals to acquire life insurance with minimal or zero out-of-pocket expense. Costly premiums are financed using the policy as collateral, making life insurance attainable with little or no impact to your estate.

When to consider premium finance:

A qualifying policy for Premium Finance must be a minimum $200,000

A robust secondary market in life insurance has created a unique financing opportunity for high net worth individuals. Working with global investors, Kore Financial Group taps into this market to offer clients the highest quality non-recourse premium finance programs.

Whether you are waiting for investments to mature or you wish to stop paying premiums that you can no longer afford, a premium financing program from Kore will allow you to take advantage of your insurability and to acquire a life insurance policy at no cost to you, your family or your estate.

Instead of paying premiums, Kore will arrange financing for your policy—no need to liquidate other assets. The policy itself serves as collateral. At the time of your death, your beneficiaries receive the proceeds, minus repayment of the loan and interest.

Kore Financial Group offers an unparalleled level of experience in structuring and originating premium-financed insurance programs. We recognize the unique planning objectives and desires of each client and work with you and/or your trusted financial advisors to design a program that meets all of your needs. All premium finance loans are developed with the highest regard for insurance industry regulation and compliant business practices.

Case Example: Andrew

Andrew, a successful 65 year-old business owner, wanted to leave some assets to children from his first marriage. He also wanted to ensure that his second wife, considerably younger, would be secure in maintaining their existing lifestyle after his death. His net worth was approximately $5 million in illiquid assets.

Through a premium finance program, Andrew acquired a total of $10 million in life insurance without any out-of-pocket expenses. His policy was placed in an irrevocable trust outside of his estate. The program allowed him to provide generously for both his children and his wife, while securing his heirs’ inheritance against any possible future legal attachment.

By utilizing his life insurance capacity, Andrew was able to create significant benefit for his heirs while maintaining control over his legacy. If the life insurance is paid upon his death then the proceeds are income tax and estate tax free.