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Goheen Insurance: Securing Legacies with Expertise and Integrity.

Premium Finance

4 Signs You Should Review Your Premium Finance Policy

Don’t settle for a premium finance agreement that doesn’t meet your needs.

There are few things more frustrating than feeling trapped in a financial agreement that’s no longer working for you. But when it comes to premium financed life insurance, many people don’t realize that they can renegotiate or even get out of their contracts. 

When you’ve purchased a life insurance policy that’s not delivering the results you expected, or your financial situation has changed and you’d like to update some of the terms of your policy, premium finance rescue can provide the solutions you need. 

At Goheen Insurance, we pride ourselves on finding the best possible strategy for each of our clients, even if they already own a life insurance policy. If you already know, or if you’re interested in finding out if your premium financed life insurance policy needs rescuing, here are 4 signs that you might be a great candidate.

1. Your Premium Finance Case Does Not Include an Exit Strategy

Any good premium finance case should include comprehensive stress testing to show that you’ll be able to handle the collateral and interest rate increases, even in less than ideal scenarios. Additionally, your broker should talk you through an exit strategy, in case you need to get out of your contract or just decide it’s no longer helping you reach your goals.

If you’re not sure how to get out of your premium finance agreement, or your advisor didn’t adequately prepare you for a variety of financial scenarios, premium finance rescue can help you find a more sustainable solution. 

2. You’re Having Trouble Managing Collateral, You’re Experiencing Issues with Interests Rates, or Your Policy is Upside Down

If your financial situation has changed and you’re struggling to manage collateral payments, or you aren’t prepared to pay the higher interest rates associated with your policy, Goheen Insurance is uniquely equipped to help you find a new solution.

Most premium finance advisors work with 1-2 banks, but at Goheen Insurance, we have relationships with 15-20 different banks. This gives us the flexibility to shop around and find an institution that can help with your unique situation, whether that means securing the lowest possible borrowing rates or negotiating a cash surrender value that you’re comfortable with.

3. Your Life Insurance Premiums are Too High

When you first purchased life insurance, did your advisor shop around to find the best carrier and rates for your needs? If not, it’s possible you’re paying higher premiums than you need to.‍

At Goheen Insurance, we have partnerships with more than 40 insurance carriers, and we take the time to shop around until we find the best rates and policy agreement for your unique needs. Often, this results in significantly lower premium payments for our clients.

4. You Want Greater Flexibility in Your Life Insurance Policy

If you feel confined by the terms of your premium finance agreement and want to learn more about the different options available to you, our team would be happy to do a free audit for you and consult with you, your advisor, or your team on the proper structure to help you solve the issue. 

Whether it’s renegotiating your bank loan, advising on your insurance, or  establishing a Life Insurance Limited Partnership or a Irrevocable Life Insurance Trust, we’re committed to creative problem solving that will help you achieve your specific financial goals. ‍

Goheen Insurance has been structuring these arrangements for years. As a consultant on lawsuits, an advisor to other advisors, and a partner for banks and carriers needing to rewrite a case, we have the expertise to assist with whatever issues you may have.  

Our company manages more than $1 billion in premiums, and we’ve worked with more than 1,000 satisfied clients, so you can trust that we have a wealth of experience and knowledge you can rely on. To learn more about how premium finance can help you secure your ideal financial future, or to find a new solution if you have a premium financed policy that needs rescuing  contact us today. 

Post Tags :

Life Insurance, The Simplicity Company, Tips, Wealth Management


Meet Shawn Goheen, the heart and soul behind Goheen Insurance. Since the early ’90s, Shawn has been more than just a financial advisor; he has been a trusted confidant to high-net-worth individuals. His journey has led him to build strong connections with over 15 specialty lenders and insurance carriers, and relationships with 20+ banks, giving him a rare edge in navigating the often-complex financial world with ease and transparency.