Businesses

Business owners often face a range of planning requirements when it comes to retaining critical employees or the transition of ownership. The need to retain important individuals, provide compensation incentives, or implement structures for business succession can often leave business owners and partners faced with a dizzying selection of potential approaches to funding solutions to these challenges.

Often, the benefits of using a life insurance policy as the basis for business planning initiatives such as these are substantially greater than those provided by using other methods of design and funding. With a life insurance premium financing loan, business owners are often able to simultaneously fund contingency plans and free up capital to apply to other productive uses.

Synovus Life has more knowledge and experience than any other lender in the industry in working with financial planning professionals, and their business owner clients, to fund solutions that enable the use of life insurance to facilitate:

Key-Person Policies

Synovus Life can provide a business with the premium financing necessary to execute a plan for the contingency of loss of a key person while reducing the often high-capital outlays necessary to fund the life insurance premiums.

Buy Sell Agreements

A loan from Synovus Life can be instrumental in putting in place a plan for business continuity for a group of owners while maintaining a higher level of liquidity than might otherwise exist if the firm were to pay premiums directly.

Executive Compensation Arrangements

Synovus Life can provide the funding necessary to enable the business to properly compensate key executives while keeping capital available and unencumbered for use in other productive projects – thus ensuring that key personnel are retained.

And funding for many other insurance-backed business planning strategies.

Trusts

Trusts Many high-net-worth individuals and entrepreneurs need to implement estate planning, wealth creation, or supplemental income contingency plans. With a broad range of potential funding options available, the path to the optimal solution can be tricky at best. When life insurance premium finance is determined to be the best approach, Synovus Life is there to provide the long-term funding needed to achieve the desired goals.

Policy Loans

Do you have an existing life insurance policy that has the potential to be highly valuable but is currently encumbered by existing loans against the value within the policy? Or do you have a policy with high cash value that you want to use as the basis for a new loan? Synovus Life can help.

Whether it’s an existing premium financing arrangement through a third-party lender or policy loans from the carrier taken against your policy’s CSV, we can work with you to structure a loan that offers significant benefits over your existing loan.