Permanent - To earlier of policy maturity date or passing of Insured
CASH ACCESSIBILITY
Line of Credit may require an account at bank.
Use of funds may be restricted to business
purposes.
100% of Loan Proceeds Paid at Closing. No Need To
Open an Account or To Disclose Use.
CREDIT CHECK
Generally required.
No credit check required
INTEREST PAYMENTS
Paid current or accrued.
Paid current or accrued.
COLLATERAL REQUIREMENTS
Policy plus additional including personal
guarantee
No collateral other than policy ever required.
LOAN BALANCE
Can exceed cash value and result in a foreclosure which can trigger tax liability.
Can never result in foreclosure, even if it exceeds
cash value
LOAN RENEWAL
At Lenders option. If not renewed, Loan becomes due. If Policy foreclosed, Borrower
may suffer tax liability.
Loan is permanent, no renewal issue/no
foreclosure/tax liability.
PREMIUM PAYMENTS
Generally required by Owner. Bank may advance premiums but is not required to do
So.
Owner has the option to make payments. If not
Lender guarantees to do so.
APPROVED CARRIERS
Guardian, John Hancock, Mass Mutual, MetLife New York Life, Northwestern Mutual, Ohio
National, Penn Mutual Life.
Guardian, John Hancock, Mass Mutual, MetLife, New York Life, Northwestern Mutual, Ohio National,
Penn Mutual Life, and many others.
*Prime Rate Range 2001-2020 (JP Morgan)
Not available in all states. Contact us today to see if your policy qualifies.
Secure your future and get the cash you need
Get cash from your whole life insurance today. Don’t surrender your Whole Life Policy without calling Fairmarket Advisors first.
Please fill out the form and we will get back to you shortly.
Secure your future and get the cash you need
Get cash from your whole life insurance today. Don’t surrender your Whole Life Policy without calling Fairmarket Advisors first.
Please fill out the form and we will get back to you shortly.
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