Bank Loan Contingency Life

Great Ideas for Unique Insurance Sales Opportunities

Bank Loan Contingency Life

Take the case of…

… Mr. Real Estate Developer who had a project that needed to be funded. The lender was requiring life insurance to be in place on the key person. Two years ago Mr. Real Estate Developer had a bout with cancer, making him unable to find a life carrier willing to offer him coverage. In hopes of closing the deal by the end of the month, Mr. Real Estate Developer’s agent called Petersen International Underwriters on a Thursday afternoon looking for help. Jumping into action, Petersen International Underwriters quoted $5,000,000 of coverage using their Bank Loan Contingent Life Plan.

The only underwriting requirements were a one page application and a copy of the loan documents. Receiving this information on Friday morning, Petersen International Underwriters was able to underwrite and bind coverage that same day. By emailing the agent a copy of the declaration page to provide the bank with proof of coverage, the lender was then able to fund the loan.

Was this insurance agent a hero or what! Let Petersen International Underwriters help you become a hero to your clients with their line of specialized products.

To Learn More…

Petersen International Underwriters offer “Meetings On Demand (MOD)” which are available to you and your staff. You can arrange to learn more about any of PIU’s products – on your schedule and in the comfort of your office. Contact Thomas Petersen, Cathy Kennedy, or Erik Petersen to set up your MOD.

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