Premium Finance/Life Settlement Expert Discussion

JRoot,

That's too bad NMFN wouldn't let you convert the policy to a $1MM policy. What is the point of a term policy being convertible if it can't be converted due to its death benefit.
 
JRoot,

That's too bad NMFN wouldn't let you convert the policy to a $1MM policy. What is the point of a term policy being convertible if it can't be converted due to its death benefit.

It was convertible, but not to UL which is what all the funders want.
 
Question for Omni?
What company do you represent? Do you know of banks giving credit lines against TIP's (transferrable life insurance policies) when they are purchased as an investment?

We have been offering Life Settlements to our clients for about 18 months now and they LOVE it. The returns are greater than 15% so you can do all kinds of things such as arbitrage on real estate, self directed IRA, income leases etc...In this market today--where are you going to find these kinds of returns with only minor risk being time? In our research Life Partners out of Waco seems to be the most reputable with the greatest returns because they fractionalize the shares.
 
We are in the process of doing a 52 yr. old $6.4 million policy and working on another.

I have learned the hard way over the last 6 months that working with different entities in premium finance can be VERY different.

We have finally found people who know what they are doing and can deliver.

The real out of pocket costs are usually to put the trust together and to pay for the letter of credit.

With the estate tax breaks sunsetting in a few years these make a whole lot of sense now for many people.

We expect some good things for the rest of the year.
 
, it's really not suitable in many cases yet a commission hungry mortage agent will SAY ANYTHING!


While I have my opinions, I appreciate others telling me where I may be off the mark, so have at it!

In which cases might that be and why? I have known commission hungry car, real estate, stock, insurance etc, etc, brokers and sno-cone stand operators that will "say anything".

Please give me 2 examples of when the rm is not suitable and why, since you invited me to "tell you where you are off the mark".
 
In which cases might that be and why? I have known commission hungry car, real estate, stock, insurance etc, etc, brokers and sno-cone stand operators that will "say anything".

Please give me 2 examples of when the rm is not suitable and why, since you invited me to "tell you where you are off the mark".

That post was from 3 years ago....
 
Ya..I realized after I hit the submit key that this post was nearly written BC. I am fairly new to the forum and probably should do less multi-tasking. It just got my gander up because so many people speak out against products based on their uneducated "opinion". I am sure you have encountered many ill-informed, opinionated folks that have trash talked your product(s), all the time not providing a product or service that could possible assist the client in the fashion that yours can.

Dave Ramsey is one of the worst.

By the way, how's your business?

I wrote a couple of Premium Finance deals a few years ago. Didn't ave a clue what I was doing. Made a couple of bucks but I am not feeling real great about the experience.
 
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