When you first engage with Vérité Group, you can have confidence in a finely tuned process that reliably and predictably results in your desired financial advantages.
Our Process
We stick to our playbook because we’ve seen what works and what doesn’t.
The Vérité Group process encompasses the best practices gleaned from our team’s combined 75+ years of individual experience in creating optimized, bespoke life insurance premium finance plans for high net worth and ultra-high net worth individuals and businesses.
A proven, ironclad structure that guides your premium financing plan to success
Explore the details of your case
Initial sharing of information between Vérité and the client or advisor. Primary focus is on insurance needs and borrower’s financial commitment. The Discover stage also includes life insurance illustrations to be financed and a discussion of the borrower’s financials.
Create a customized architecture
We next create a customized Premium Finance design to meet each client’s goals. This stage often involves multiple iterations to arrive at suggestions for products that allow for the highest probability of success.
Prepare lender submission documents
In this stage, the borrower will provide all necessary documents and financials to form a complete package. Vérité will review the financials and if acceptable, package them for submission to a lender. Vérité will choose the lender that offers the best terms for the transaction. We will negotiate the best terms based on the client’s profile and size of the transaction. Once the term sheet is reviewed and accepted by the client, we will then move to obtain closing documents.
Complete the transaction
Either in person, by phone, and/or over video, Vérité will be present throughout to ensure a smooth and complete closing and document signing. You can be confident that we’ll have all the bases covered: applications, documents, designs, and stress testing.
Facilitate the premium payment
Following their receipt of signed and notarized documents, pledge of collateral (if needed), and interest (if required), the bank will wire the premium amount to the insurance carrier.
Regularly analyze the financing program
Life insurance premium financing is not a “set it and forget it” arrangement. Vérité has an annual pre-renewal review process that examines the program to track performance vs. expectations.
Is your current in-force policy on track with your goals? Find out if you can do better.
- Have your goals or financial situation changed since your current plan was issued?
- Is your lending relationship still a good fit?
- Is the insurance policy performing as designed?
Vérité Group’s Life Insurance Premium Finance Review for In-Force Policyholders is your opportunity to take your current plan in a more advantageous direction for you and your family.