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Insurer Forms Premium Financing Alliance

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NU Online News Service, June 2, 2004, 12:25 p.m. EDT – The U.S. arm of Sun Life Financial Inc., Toronto, has picked A.I. Credit Corp., New York, to help it set up a new life insurance premium financing program.[@@]

The program will serve wealthy customers who have illiquid investments, such as stock in small businesses, and need at least $100,000 to pay for life insurance.

The program makes sense for customers with a net worth over $5 million who expect the returns on their illiquid investments to be higher than the interest rates on the A.I. Credit loans, Sun Life says.