Guide to Premium Financing for Insurance Plans – 3 Ways to Test If It Works For You

Premium financing can be attractive when borrowing costs are low and the policy performs as expected. As detailed in my article, it can provide you with an income to supplement your other sources, while enabling your capital outlay to be low, thereby tapping into the power of leverage. Payout from insurance plans tend to be more stable, and fluctuate much less than the frequent movements in financial markets, and as such are used as a strategy by some, especially in times of low interest rates and financing costs.

But the success of the strategy depends on more than simply comparing the policy payout with the current loan interest rate. There are risks involved whenever with such an arrangement. I have however, developed 3 ways to test if it works for you.

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