Visit cpajournal.com to read the very latest from The CPA Journal
September 2009 » Premium Financing: The Time Is...
Full articles of The CPA Journal are available to NYSSCPA members and CPAJ subscribers ONLY. Please login to access this content.
Nonmembers and nonsubscribers, you can apply for NYSSCPA Membership here and get unlimited access to The CPA Journal, or you can create a non-member online account here and purchase individual articles.
Cory Chmelka, CFP
As Ben Franklin observed, death and taxes are life's only certainties. Nevertheless, there may be a better way for high-net-worth individuals who need substantial life insurance to cover those inevitable estate taxes while paying for that protection. Rather than use current cash flow or liquidate appreciated investments that may come at a high tax cost, premium financing—whereby one borrows money from a bank or other lender to purchase insurance—is often the most efficient and cost-effective way to pay for life insurance. The discussion below focuses on traditional premium financing for the purposes of estate planning, not investor-originated life insurance (IOLI) or stranger-originated life insurance (STOLI).
Advertising with the NYSSCPA is your opportunity to reach the greatest number of business advisors in the most important business state in the nation.
Post a resume or job listing in our Career Center to connect with hundreds of employers or job seekers.
Join 21,000+ of your peers. Apply for membership today!
Find CPE Conferences, Seminars, and Online Courses Here.
Get insight and analysis into all areas of the profession.
Content provided by and exclusively for NYSSCPA members.
Stay up to date with important NYSSCPA news.
A daily roundup of the latest from around the accounting and financial industry.
A strong PAC means a strong profession. Donate Today.
Help develop a strong network of connections.
A resource for NYSSCPA Members.
Members, Get expert answers to technical questions.
Start your career off right with an experienced mentor.
It's never too early to start thinking about your career.