Premium Financing Guidelines
AIG Allianz Nationwide National Life Group Products Available Max Accumulator+ Value+ Protector Elite Global Plus II Elite Survivor Index II Life Pro+ Life Pro+ Survivor YourLife Indexed UL Accumulator IUL SIUL Issue Age Limits Individual: Issue Age 70 Survivor: Youngest insured Issue Age 70 18-60 years old 65 or under at policy issue Maximum Age: 70 Minimum Net Worth $5,000,000 $5,000,000 $10,000,000 Ages 51-70: $5,000,000 Ages 25-50: $2,500,000 Minimum Liquid Net Worth Sufficient Liquidity for Projected Debt Individual Consideration Individual Consideration Minimum Annual Income $150,000 Typically $200,000 + Typically $200,000 + Minimum Face Amount No Specified Limits $5,000,000 Option 2 & 3 may not be greater than $15,000,000 initially. Premiums of $100,000 U.S. Citizenship Required Yes Yes U.S. Citizen or permanent resident U.S. Citizen or permanent resident U.S. Ownership Required Yes Yes Yes Yes Interest Accrual Allowed No Yes No Yes - for those with a minimum net worth of $5,000,000. Early Cash Value Rider Available Yes, Elite Global Plus II only Yes, not required unless needed for collateral No Yes Full Recourse Required Yes Yes Yes Yes Loan Spread Requirement No Specified Limits Yes, contact for details N/A N/A MEC Allowed No No N/A No Minimum Loan Duration No Specified Limits Must show exit strategy N/A N/A Loan Term Sheet Required Individual Consideration Yes Yes Yes Third Party Financials Required No Yes Yes Yes Two Years Tax Returns Individual Consideration Yes N/A N/A
Cases with income stream, planned premium must be less than the sum of 50% of gross income and 10% of liquid assets Cases without income stream, planned premium must be less than the sum of 50% of gross income and 4% of liquid assets
Premium Financing Guidelines
Please contact John Hancock to discuss your
Please contact John Hancock to discuss your case: David
Please contact John Hancock to discuss your case: David McNamara
John Hancock Lincoln Financial
Life Products Available Accumulation IUL Protection IUL Protection UL Protection Survivorship UL Protection Survivorship IUL All Fixed Permanent Products All Fixed Permantent Products Issue Age Limits
Symetra Pacific
McNamara davidmcnamara@jhancock.com 617572-0357 30-70 70 Under 80 Those who are 70+ are subject to additional review. Minimum Net Worth $5,000,000 $5,000,000 $5,000,000 (consider $2.5 million under age 50). $10,000,000 Minimum Liquid Net Worth
case: David
davidmcnamara@jhancock.com 617572-0357 The minimum premium should not exceed 40% of annual income 10% of Total Loan Amount Minimum of 20% of Net Worth liquidated Minimum Annual Income
McNamara
617-
$250,000 $200,000
insurance premiums).
Payements in year 10
20% of
net income
of payements. Minimum Face Amount $2,000,000 Max Annual Premium: U.S. Citizenship Required No No - Foreign Nationals reside under differing guidelines than U.S. Citizens. U.S. Ownership Required Yes Yes
davidmcnamara@jhancock.com
572-0357
(consideration with ability to fund life
Intrest
should represent no more than
borrower's
or liquidity if that is the source
Interest Accrual Allowed Yes - given the client is domestic with a net worth of 10 million or greater Yes Early Cash Value Rider Yes Yes Full Recourse Required Yes Yes Loan Spread Requirement Not exeeding U.S. Treasury CMT or SOFR + 3.5% or Prime + 2.5% Yes MEC Allowed No Individual Concideration - shorter durations considered for insured with net worths of $10 million + No Minimum Loan Duration 3 years 3 years Loan Term Sheet Required Yes Yes Yes Third Party Financials Required Yes Yes Two Years Tax Returns Yes Yes - for the policyowner
