EFTA01046624.pdf

From: Faith Kates < To: "jeevacation®gmail.com" <[email protected]> Subject: Fwd: new insurance proposal Date: Wed, 10 May 2017 22:09:23 +0000 Attachments: Kogan_-_new_proposal.pdf; ATT00001.htm Please find attached an updated proposal for the premium financing insurance John had previously discussed with you and Jimmy mentioned to you the other day. Premium financing is a method of paying insurance premiums without having to use out of pocket cash. The insured or a Trust borrows insurance premiums from a bank, securing the bank loan with the cash value of the insurance policy. The insured posts collateral (i.e. cash, stocks, bonds, art) in early years of the policy to cover the shortfall between cash value of the insurance policy and loan accrued. The collateral requirement is ultimately reduced by growth in the cash value until it ultimately disappears (usually between years 7 to 12) when cash surrender value exceeds the loan amount. The ideology of premium finance is to help high net worth clients attain the insurance needed, while keeping liquidity free that would have been used to pay premiums for a large policy. In addition, this program is extremely tax efficient considering that premiums paid are free of gift tax and the life insurance benefit will be paid income, estate and generation skipping tax free. Dan will be able to go over the program in more detail when he meets with you. Please confirm that this Monday in our New York City works for both you and Faith. Any questions do not hesitate to give me call. Betty Anne Assistant to John Lowth & Dan Andriano From: Smith, Betty Anne Sent: Tuesday, May 09, 2017 3:54 PM To: < Cc: Smith, Betty Anne < Subject: Mass Mutual policy Attached is a copy of your Mass Mutual policy along with the "plain English" explanation that John had forwarded to you. I will forward you the new proposed coverage in a separate email for you to review by tomorrow. Please confirm that you can meet with Dan Andriano next Monday, May 15th at 10:00 am, in our NYC office. Any questions prior to the meeting do not hesitate to give me a call. EFTA01046624 Betty Anne Smith Assistant to John Lowth & Dan Andriano ARNONE, LOWTH, WILSON, LEIBOwnz, ANDRIANO & GRECO 105 Broadhollow Road Melville, New York 11747 The information contained in this communication is not intended as specific legal or tax advice. Neither Arnone, Lowth, Wilson, Leibowitz, Andriano & Greco, and NFP company, nor any of its employees or representatives are authorized to give legal or tax advice. Any individuals interested in this concept must rely on the advice of their own independent tax or legal counsel, for whom this information is provided as an aid. No one may rely on the information contained herein for purposes of avoiding any federal penalties. This e-mail may contain information that is privileged, confidential or protected under state or federal law. If you are not an intended recipient of this email, please delete it, notify the sender immediately, and do not copy, use or disseminate any information in the e-mail. Any tax advice in this email may not be used to avoid any penalties imposed under U.S. tax laws. E-mail sent to or from this e-mail address may be monitored, reviewed and archived. EFTA01046625