beyond MD with Dr. Yatin Chadha Ep #91 - Dissecting Immediate Financing Arrangements (IFAs) with Promod & Jeevan Sharma
Today I welcome Promod Sharma & Jeevan Sharma to the show to discuss the immediate financing arrangement (IFA).
Promod (actuary) & Jeevan (CFP) specialize in helping high-net-worth individuals & tackling their unique situations beyond basic insurance coverage.
Discussion Points:
What is an IFA? (2:17)
Whole life (WL) vs Universal life (UL) - which is more suitable for an IFA? (3:41)
What is the cash surrender value (CSW)? (7:35)
How can policies be structured to allow for IFAs...Important (9:30)
Who could benefit from an IFA? (16:55)
IFA mechanism:
- policy as collateral (23:23)
- how large can the loan be? (24:42)
- lenders (26:32)
- personal vs corporate loans (27:57)
- loan rates (30:58)
- guarantee fees (31:35)
Does IFA impact policy growth? (33:34)
Using policy as collateral vs directly borrowing from the policy (34:20)
How are IFAs tax efficient? (36:34)
Loophole? (42:34)
Fees (44:55)
Ways to pay off the loan (45:44)
Permanent life & IFA checklist - Important (46:25)
When not to pursue an IFA (50:56)
IFA risks (53:09)
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This episode features Arya EHR - https://www.aryaehr.com/
**I endorse only products/services I personally use or would use. Any income generated offsets the costs of running this podcast
Promod Sharma & Jeevan Sharma:
https://www.linkedin.com/in/promod/
https://www.linkedin.com/in/jeevanksharma/
Yatin Chadha:
Email: beyondmdpodcast@gmail.com
LinkedIn: Yatin Chadha