Julian Movsesian is the President and CEO of Succession Capital Alliance, located in Newport Beach, California. Movsesian and Succession Capital Alliance promote and sell life insurance premium financing programs.
Life insurance premium financing is a strategy usually recommended to high net worth individuals, and allows the individual to take out third party loans in order to pay for a life insurance policy’s premiums. While the high death benefit and cash value often seem attractive, the high cost of the insurance and borrowing create a very risky and expensive insurance plan.
The attorneys of Peiffer Wolf represent victims of bad premium financed life insurance plans often sold not in their own best interests, but in the interest of the selling agent’s commission. If you have financed life insurance premiums with Julian Movsesian and/or Succession Capital, Contact Us today by filling out a Contact Form or by calling 585-310-5140 to schedule a FREE Case Evaluation.
The goal of life insurance premium financing is to allow high net worth individuals to purchase large life insurance policies without having to liquidate substantial assets in order to pay the premiums. Where life insurance premium financing goes according to plan, the borrower makes payments on the loan until either the debt is satisfied or the insured passes away and the balance of the loan is paid off with part of the insurance proceeds.
However, these programs are very risky. First, interest rates on the loans used to purchase the policies often have a variable interest rate. Therefore, as interest rates increase, monthly interest payments on the loan can skyrocket.
Second, borrowers often have to periodically re-qualify for the loan. If the value of the collateral provided falls below a certain value, the borrower may have to provide additional collateral, or otherwise face the loan becoming due or renewal at a higher rate.
Third, if the life insurance policy’s cash surrender value underperforms, the loan balance could exceed the value of the provided collateral, requiring the borrower to put forth even more collateral to make up the difference. Additionally, if the death benefit of the policy does not grow, the estate of a borrower may have to repay the loan if the death benefit does not cover the remaining balance.
Peiffer Wolf is currently investigating claims against Julian Movsesian and Succession Capital Alliance related to life insurance premium financing. If you have financed life insurance premiums with Julian Movsesian and/or Succession Capital, Contact Us by calling 585-310-5140 or by filling out an online Contact Form for a FREE Consultation.
If you believe you were a victim of a life insurance premium financing scheme, it is imperative to take action. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors.
Peiffer Wolf is currently investigating claims against Julian Movsesian of Succession Capital Alliance for his recommendation of life insurance premium financing schemes. If you were recommended a premium financing scheme by Julian Movsesian and/or Succession Capital Alliance, Contact Us today by filling out a Contact Form or by calling 585-310-5140 to schedule a FREE Case Evaluation.
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