What is a Carrier Acknowledged Program?
I recently decided to turn to life insurance financing for a variety of financial reasons but in my research I found that there are many benefits to using carrier acknowledged programs. After learning more about the types of programs offered I realized there are many risks to using any other kind of program.
The alternative is a stranger owned life insurance policy or non-recourse premium finance which can attract those who do not want to be required to post any collateral. Stranger owned policies do not require an insured to post a personal guarantee and thus many of these programs can attract fraudulent activity. In today’s changing environment fraud keeps evolving, making it more and more difficult to decipher which programs are trustworthy.
The use of these more yielding programs has created growth within the life insurance premium finance market. This is also why many carriers have recognized the rising need and invited many new lenders and programs alike to participate. Anyone who checks into the types of programs available will clearly see the benefits of carrier acknowledged programs. More importantly they can feel assured that they are involving themselves in a transaction that is more protected than risky.
Tags: carrier acknowledged programs, fraudulent, stranger owned life insurance