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Ridge Capital Group Announces Support for the Life Insurance Finance Association Statement of Best Practices.

SAN DIEGO -- As part of Ridge Capital Group, LLC's commitment to quality, premium-finance products and strict compliance with industry regulations, the company today is announcing its support of the Life Insurance Finance Association's statement of best practices.

Earlier this month, Ridge Capital Group began the incremental roll out of its Ridge Capital Flexible Premium-Finance Loan program, which is designed to address the needs of both insurance carriers and insureds in the current life-insurance premium-finance environment. The program will be rolled out in phases to Ridge Capital Group's distribution partners.

"Life insurance can be costly, requiring significant personal assets to pay premiums; however, high-net-worth seniors may not have available liquid means to pay the high premiums that come with purchasing life insurance," said Justin Finemel, Ridge Capital Group's chief executive officer. "Consequently, financing life-insurance premiums has become an important strategy."

To support this need, the Ridge Capital Group Flexible Premium-Finance Loan was designed with industry best practices in mind to provide high-net-worth seniors with the ability to finance life insurance for up to 10 years and offers clients a variety of flexible financing options.

"The new premium finance loan program provides an extremely flexible structure with favorable terms, which make it an ideal product for financing life insurance in today's market," said Finemel. "The Ridge Capital Group Flexible Premium-Finance Loan provides those clients with real needs for life insurance with a variety of financing options to best fit their current situations."

Management of the Ridge Capital Group was active in forming the Life Insurance Finance Association, which represents the life-insurance premium-finance industry and other life insurance, financial planning and loan professionals that support that industry.

The impetus for Life Insurance Finance Association's formation was the need for life-insurance premium-finance professionals to actively promote and embrace standards for "best business practices" and assist policymakers, insurance carriers and the public in understanding and differentiating between legitimate premium-finance transactions from schemes merely cloaked as premium-finance transactions that violate insurable interest, anti-rebating, anti-inducement or other insurance laws.

To obtain a copy of the Life Insurance Finance Association statement of best practices or learn more about the Ridge Capital Flexible Premium-Finance Loan, contact Angie Robert at 858-244-4729 or arobert@ridgecapitalgroup.com.

With a variety of loan structures rich in benefits and options, fully funded by institutional investment capital and staffed with experts, Ridge Capital Group has quickly become a premier source of premium financing. Its products' success is a direct result of their features and the level of service Ridge Capital Group staff provides to insurance agents and brokers. The management and professionals on the company's staff consist of individuals with numerous years of experience in the insurance, finance, legal and capital markets industries.
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Publication:Business Wire
Date:Jul 26, 2006
Words:448
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