Nice article by Terry Savage on the premium financing of large amount life insurance policies to seniors who really did not need the insurance. According to Savage, some seniors are unable to sell their policies to investors to complete the cycle (borrow money, buy insurance policy, sell insurance policy, pay off loan). I’m a tad bit disappointed Savage did not report actual numbers of policyholders affected.
If I find some statistics on this, I’ll post them.
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