My husband I worked hard our whole life and now we are in our late sixties and we are able to say that we have 3 homes and a piece of property that are paid off. We have watched the values go up and down and so we decided to consult with our banks financial advisor to make sure we are handling our assets in the most productive way we can.
To our surprise our bank brought to our attention that we have more money wrapped up in our real estate than we do in cash. Therefore they suggested we look to our life insurance to pay our real estate taxes. Life insurance premium financing is not something we had considered but after we weighed our options it seemed like the right thing to do to protect our financial interests.
We checked our life insurance and we were able to initiate premium financing for life insurance at a low interest rate. We are relieved to know we will only pay 1% plus prime and will be able to fulfill the loan obligation within a couple of years. Now we don’t have to worry about the taxes on the homes or exhausting our finances to pay them.
property, life insurance premium financing, premium financing for life insurance
Monday, April 20, 2009
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