April 18, 2013
Premium Financing
Madison Brokerage works with agents, brokers and trusted advisors, as a single-source provider, to underwrite and execute premium finance transactions. Since all premium finance transactions involve a life insurance policy, we underwrite the insurance and simultaneously obtain the financing, streamlining the process and eliminating the need to use multiple vendors allowing transactions to be executed timely and efficiently.
- Case Study:
- 75-year-old Male
- Preferred offer
- $10,000,000 death benefit need
- Funded using Premium Financing
A 75-year-old male needs a $10 million death benefit. The client received a Preferred non-smoker offer from a carrier, through a competing general agent, recommending a premium financing program, which was ultimately unacceptable to both the client and agent. The broker turned to Madison Brokerage with an offer that could be placed, but with no means of funding it.
Madison Brokerage capitalized on its relationship with a trusted carrier’s approved premium financing program. The result: Madison Brokerage’s relationships with the lender and the carrier resulted in better loan terms, reduced collateral requirements for the policy owner and increased compensation for the broker.
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