Goto Premium Finance for Life Insurance Financing Solutions

Goto Premium Finance offers a range of life insurance financing solutions that can help make your policy more affordable. Their financing options are designed to be flexible and adaptable to your individual needs.

Goto Premium Finance has been in the industry for over 35 years, providing financial solutions to thousands of clients. This experience and expertise have earned them a reputation for reliability and trustworthiness.

Their financing solutions can help you pay for your life insurance premiums in a way that fits your budget. This can be especially helpful if you're on a tight budget or have other financial priorities.

Life insurance is a type of insurance that pays out a death benefit to your beneficiaries when you pass away. This can be a huge relief for those left behind, as it can help cover estate taxes and other expenses.

One of the key benefits of life insurance is that it can be used to pay estate taxes, which can be a major burden on your loved ones. By using the proceeds from a high-value life insurance policy to pay these taxes, you can avoid liquidating assets or disrupting your investment portfolio.

A life insurance policy can also provide a source of funds to sustain a business. This can be especially important if you're a business owner who wants to ensure that your company continues to thrive even after you're no longer around.

The proceeds of a life insurance policy can be used in a variety of ways, including:

Borrowing to finance life insurance premiums can be a smart move, especially if you're looking to increase coverage without affecting your current cash flow.

Financing the cost of a high-value insurance policy can allow you to increase insurance coverage without adversely affecting your current cash flow (or lifestyle), as seen in Example 2.

By borrowing to pay premiums, you can avoid having to sell assets—and potentially triggering a taxable event—to cover the cost of the premiums, as mentioned in Example 2.

Financing your life insurance premiums can also allow investments within the policy to grow free of income taxes, as explained in Example 2.

A “carry” opportunity may exist if the interest rate charged on the loan is lower than the rate of return earned on the cash value of the policy, as noted in Example 2.

Here are the benefits of borrowing to finance your life insurance premiums:

Life insurance premium financing can be a smart move, but it's essential to understand the risks involved.

One risk to consider is interest rate fluctuation. This can affect the amount of money you owe on the loan.

Market volatility is another risk to be aware of. This can impact the value of the assets you're using as collateral.

A collateral shortfall can also occur, leading to a margin call. This is when you're required to pay more money to cover the difference between the loan and the value of the collateral.

It's crucial to discuss your objectives with your financial team, legal advisors, and tax experts before making a decision.

Recent economic events have created a credit crunch, making loans more difficult to obtain for most business owners. Many industries are struggling, and businesses are feeling the squeeze.

Banks are tightening their lending policies, making it hard for businesses to get the capital they need. This is where premium financing comes in – it provides competitive rates on commercial insurance policies for businesses of all sizes and in all industries.

Spreading payments over a defined period of time allows businesses to better manage cash flow and release capital for other critical needs. This can be a game-changer for businesses that are struggling to make ends meet.

Insurance agencies benefit from premium financing by offering a reasonable payment option to their insureds. This helps them build strong relationships with their clients and earn their trust.

By partnering with their insureds to manage their business, agents can gain a client for life. This is a win-win situation for everyone involved.