Petersen International Underwriters, Valencia, Calif., has announced the release of its new Prime Flex Loan Adjustment Rider for its series of Bank Loan Indemnification disability plans.
This optional rider attaches to the Loan Indemnification plan of High Limit Disability Insurance making a fixed monthly or lump sum benefit flex to an adjustable rate loan. Mark Petersen, Vice President of Petersen International Underwriters, states, “Many commercial loans are tied to the prime interest rate and will fluctuate up and down. The PFL will provide for up to a 20% increase in the original benefit if indeed the loan interest moves up that much. No other disability loan plan works this way and PIU is proud to be the first to introduce such a program!”