Requirements utilize an income qualification approach of at least $200,000 per year** and a minimum of $35,000 contribution for 10 years.

Yes, like all good things in life, there are risks associated with premium financed life insurance. It is unfortunate that there are bad actors in our industry that promote things like “risk free” and “free insurance”, but at EFS we are transparent and identify the risks for our clients and help mitigate them as best as possible.

Similarly to a mortgage, the lender providing clients with additional capital requires collateral. For our  Deferred Enhanced Funding solutions, the policy's values serves as the sole collateral.* 

For our Traditional Enhanced Funding solution, the policy’s value will serve as the lender’s primary collateral, and if the policy’s cash value is insufficient, additional collateral will be required.  Similarly to making a down payment for a home, collateral can simply be liquid assets like cash, marketable securities, and bonds, for example. However, other assets and commitments can be utilized upon strict approval of the carrier and lender.

No. Financial underwriting will be required once for the entire life of the loan and program, making it the most efficient financial underwriting process in the industry.

NOTE: If using using a variable rate, the lender will require updated financial documents from the policy owner/borrower each year upon loan renewal. Some loans have longer terms to allow for more efficient processing over extended years prior to loan maturity.

No, we have great relationships with many carriers and lenders, but we only have allegiances to our clients. EFS is an independent specialty insurance firm that has the ability and responsibility to provide our clients with the absolute best solution to fit their needs.