Premium Financing Guidelines AG
Allianz
AXA
Global Atlantic
Max Accumulator+ Value+ Protector Elite Global Plus II Elite Survivor Index II
Life Pro+ Life Pro+ Survivor
All Fixed Permanent Products
Lifetime Builder Survivorship Builder Lifetime Foundation
Individual: Issue Age 70 Survivor: Youngest insured Issue Age 70
Max age 65
No Specified Limits
No Specified Limits
$5,000,000
$5,000,000
$5,000,000
$5,000,000
Individual Consideration
20% of Total Loan Commitment
$150,000
Cases without income stream, planned premium must be less than the sum of 50% of gross income and 4% of liquid assets
Individual Consideration
$200,000
No Specified Limits
$5,000,000
No Specified Limits
No Specified Limits
U.S. Citizenship Required
Yes
Yes
No, U.S. Residency Required (No NRAs)
Yes
U.S. Ownership Required
Yes
Yes
Yes
Yes
Interest Accrual Allowed
No
Yes
Individual Consideration
No
Yes, Elite Global Plus II only
Yes, not required unless needed for collateral
Yes
Lifetime Builder Only
Yes
Yes
Yes
Yes
No Specified Limits
Yes, contact for details
No Specified Limits
May not exceed 1.0%
No
No
Individual Consideration
Individual Consideration
No Specified Limits
Must show exit strategy
No Specified Limits
No Specified Limits
Individual Consideration
Yes
Yes
Yes
No
Yes
Normal Financial Underwriting Rules Apply
Yes
Individual Consideration
Yes
Yes, for age 70 and above only
Yes
Products Available
Issue Age Limits Minimum Net Worth
Minimum Liquid Net Worth
Minimum Annual Income
Minimum Face Amount
Early Cash Value Rider Available Full Recourse Required Loan Spread Requirement MEC Allowed Minimum Loan Duration Loan Term Sheet Required Third Party Financials Required Two Years Tax Returns
Sufficient Liquidity for Projected Debt
Cases with income stream, planned premium must be less than the sum of 50% of gross income and 10% of liquid assets
Premium Financing Guidelines John Hancock
Lincoln Financial
Minnesota Life
All Fixed Permanent Products
All Fixed Permanent Products
No Specified Limits
Under Age 70
$5,000,000
$5,000,000
Ages 30 - 50: $2,500,000 Over age 50: $5,000,000
10% of Total Loan Amount
$250,000
Individual Consideration
No published guidelines
$2,000,000
Max Annual Premium: $3,000,000
Please contact Mutual of Omaha to discuss your case:
Please contact John Hancock to discuss your case:
Yes
Normal Underwriting Rules
Yes
Yes
Ron Lee Head of Advanced Planning ron.lee@mutualofomaha.com 402-351-5528
Interest Accrual Allowed
No
Yes
Early Cash Value Rider Available
Yes
Yes
Full Recourse Required
Yes
Yes
Not exceeding LIBOR +3.5% or Prime +2.5%
No Specified Limits
Individual Consideration
No
3 Years
No Specified Limits
Loan Term Sheet Required
Yes
Individual Consideration
Third Party Financials Required
Yes
Individual Consideration
Two Years Tax Returns
Yes
Individual Consideration
Products Available
Issue Age Limits Minimum Net Worth
Minimum Liquid Net Worth
Minimum Annual Income
Minimum Face Amount
U.S. Citizenship Required U.S. Ownership Required
Loan Spread Requirement MEC Allowed Minimum Loan Duration
David McNamara davidmcnamara@jhancock.com 617-572-0357
Mutual of Omaha
No published guidelines
Marty Johnson Chief Underwriter marty.johnson@mutualofomaha.com 402-351-2283
Premium Financing Guidelines
Products Available
Issue Age Limits Minimum Net Worth
Minimum Liquid Net Worth
Nationwide
Principal
Protective
Prudential
YourLife Indexed UL Accumulator
All Fixed Permanent Products
Protective ProClassic UL
All Fixed Permanent Products
65 or under at policy issue
Individual Consideration Generally not over age 70
Maximum Issue Age of 85
Determined by product selected
$10,000,000
$10,000,000
$5,000,000
Individual Consideration
Individual Consideration
Individual Consideration
No Published Guidelines Prudential reviews each premium finance opportunity on a case-by-case basis Please contact Prudential to discuss your case:
Typically $200,000 but will consider lower based on overall financial position
Individual Consideration
Option 2 & 3 may not be greater than $15,000,000 initially. Otherwise, individual consideration
No Specifed Limits
Minimum Annual Premium: $100,000
Scott Butterworth Director, Advanced Markets scott.butterworth@prudential.com 860-534-9051
U.S. Citizenship Required
U.S. Citizen or permanent resident
Normal Underwriting Rules Apply
Yes
No
U.S. Ownership Required
Yes
Normal Underwriting Rules Apply
Yes
No
Interest Accrual Allowed
No
Individual Consideration
Yes
Individual Consideration but paying annually and out of pocket is usually preferred
Early Cash Value Rider Available
No
Individual Consideration on UL Accumulation and IUL Accumulation only
Yes
Yes, but not required
Full Recourse Required
Yes
Yes
Yes
Yes
Loan Spread Requirement
N/A
No Specifed Limits
No Specifed Limits
No
MEC Allowed
N/A
No
No
Yes, MEC disclosure form must be signed
Minimum Loan Duration
N/A
No Specifed Limits
5 Years
No
Loan Term Sheet Required
Yes
Yes
Yes
No
Third Party Financials Required
Yes
Normal Underwriting Rules Apply
Yes
Normal Underwriting Rules Apply
N/A
Individual Consideration
Yes
Normal Underwriting Rules Apply
Minimum Annual Income
Minimum Face Amount
Two Years Tax Returns
$200,000 +/-
Premium Financing Guidelines
Products Available
Issue Age Limits Minimum Net Worth
Minimum Liquid Net Worth
Minimum Annual Income
Minimum Face Amount
Transamerica
Voya
TransNavigator UL
All Fixed Permanent Products
80
80
$5,000,000
$5,000,000
Individual Consideration
Individual Consideration
Lenders Discretion
$250,000
Minimum Annual Premium: $100,000
No Specifed Limits
Zurich
No Published Guidelines Minimum face amount: 5 million Must be owned by an entity
U.S. Citizenship Required
Yes
No
Purpose of life insurance: estate or gift tax planning
U.S. Ownership Required
Yes
Yes
Please contact Zurich to discuss your case:
Individual Consideration May be allowed with lender approval & only up to 3 years
Individual Consideration
Farah Rehman farah.rehman@zurichna.com 713-787-5906
Early Cash Value Rider Available
No
Yes, required on premium finance cases
Full Recourse Required
Yes
Yes
No Specifed Limits
No Specifed Limits
No
No
No Specifed Limits
None
Loan Term Sheet Required
Yes
Individual Consideration
Third Party Financials Required
Yes
Normal Underwriting Rules Apply
Two Years Tax Returns
Yes
Normal Underwriting Rules Apply
Interest Accrual Allowed
Loan Spread Requirement MEC Allowed Minimum Loan Duration