The Fixed Rate Loan program is designed to allow high net worth clients to know with certainty what the financial outlay will be for up to 5 years. 

Benefits of the FIRST Fixed Rate Loan

• The client can choose to pay annual interest either in advance or in arrears.
• No prepayment penalties
• No required revenue sharing 

• Open to Universal life, Whole life (with APL turned off) and Indexed policies
• Minimum net worth $5,000,000
• $500,000 minimum initial loan amount
• Full Recourse
• Spread is locked in for the life of the loan
• Rate is fixed for up to 5 years
• Interest can be paid annually, either in advance or in arrears
• Fast and simple annual loan review requires minimal annual contact from the borrower
• Breakage fee may apply if transaction is paid off before the end of the fixed rate period

1. Approved carrier premium finance illustration signed and dated by the applicant/borrower and insured
2. Policy sales illustration signed and dated by applicant/borrower and broker
3. Personal Financial Statements (not more than 6 months old, signed and dated)
4. 2 Years of Tax Returns (complete with all schedules, signed and dated by the tax filers)
5. Completed FIRST Credit Application (signed and dated)
6. Organizational documents (if a trust, corporation or other entity)
7. Brokerage statements