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The American Association for Leisure and Recreation Insurance serves recreation professionals -- practitioners, educators, and students -- who advance the profession and enhance the quality of life of all Americans through creative and meaningful leisure and recreation experiences all while securely covered by Insurance.

Premium Financing Hope For Your Kids

Life Premium Funding Programs are one of the few insurance products that let’s you enjoy your life while allowing your loved ones to move on comfortably once you’re gone. Needless to say, the ALR finds this a very good thing for all Americans.

Strictly speaking, premium financing is not a new insurance product. Rather, it is a type of financing scheme so that high net worth individuals can take out a policy worth millions without them having to sell any assets just to pay for the premiums. There are many firms in the market today that can financing your life insurance policy, although insurance companies and insurance brokers do the same thing on occasion.

Premium financing was once called by some sectors as “free life insurance” but the moniker has had people confused about premium financing, even suspicious of it. It would seem like free life insurance at first glance, but premium financing is a loan that needs to be paid, whether in life or at death. It may have earned the free life insurance title because policyholders do not need to pay large out-of-pocket expenses just to be covered for millions of dollars. In most cases, an interested individual only needs to present collateral equivalent to 25% to 100% of the total premiums to be paid.

In some cases, the premium financing company first pays the insurance company the premiums on a life insurance policy. The policyholder is then billed monthly. As other premium finance firms, the loan is non-recourse that requires no guarantees, only a small collateral is required. The premium financing loan (plus the accrued interest) is simply deducted from face amount of the insurance policy when the insured person dies. The whole balance of the face amount is then turned over to the insured person’s beneficiaries.

The AALR finds that premium financing is the best thing that has come out of the insurance in years. Next, of course, to life insurance.

If you are not fit to participate in any of the available premium financing programs AALR recommends that you have fun now. Purchase cheap broadway theater tickets or the whole family such as the wiggles tickets or walking with dinosaurs tickets and enjoy life now as it lasts without getting to involved in life insurance and thoughts of death. For more fun ideas browse through the zissil site.

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American Association for Leisure and Recreation Insurance