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INSCOR, Inc. Plan Helps Professional Athletes and Entertainers Build Wealth

INSCOR, Inc. Plan Helps Professional Athletes and Entertainers Build Wealth

Written by ι Stock Market Media Group Staff — June 7, 2013

It’s no secret that most spend what they make.  Athletes, entertainers and other high net worth individuals are certainly no different as it’s well documented that many affluent individuals go broke for many reasons.  INSCOR, Inc. (OTC Pink: IOGA) has a plan for those individuals specifically modeled after the Financed Insurance Trust (FIT) plan the company uses to help corporations, university systems, hospitals, municipalities and other government entities fund their employees post-employment benefits.

According to Sports Illustrated magazine, almost 80 percent of National Football League players flirt with bankruptcy only two years after retiring, and 60 percent of National Basketball Association players are broke within five years of retirement.  Entertainers aren’t immune from bankruptcy either.  The headlines are littered with well known Hollywood actors and actresses and names from the music industry that lost the fortunes they built.

Athletes and entertainers squander millions of dollars due to bad decisions, lavish spending and poor financial planning.  Well, INSCOR has designed a FIT plan to act as a great vehicle in the defense of an individual’s ability to maintain his/her high net worth.  A FIT plan is a life insurance strategy that finances the cost of a permanent life insurance policy through major lending institutions.  Policy cash values provide collateral and are later used, in part, to retire the loan including principal and interest.

Not only is INSCOR’s FIT plan a great tool to protect wealth for these high net worth individuals, but it can also be used to build wealth.  Thousands have purchased large, permanent life insurance policies at amounts ranging from $2 Million to $200 Million, with most of those individuals never having to spend a dime of their own money.  Many of these policies have not only provided them with significant death benefit protection, but have created sizable cash value accumulations to draw from for a variety of cash flow needs.

 Under INSCOR’s plan the policy holder’s assets remain in place and are not used to pay insurance premiums.  High net worth individuals and companies have used premium financing for purchasing life insurance for about 20 years, and the strategy has developed over the years to become the preferred vehicle for large purchases of life insurance among qualifying affluent individuals and companies.  FIT plans can be modeled to not only provide significant volumes of life insurance, but also create substantial cash values that can be accessed to provide a tax-free income stream during retirement.  

In many cases, depending on age and insurability, FIT plans can be designed with little or no out-of-pocket expense.  The plans provide assurance that an individual’s wealth has been protected without the need to liquidate assets to pay insurance premiums.  Financing costs are minimized through secured lending sources backed primarily by policy cash values.

Each Financed Insurance Trust strategy has three primary components that are utilized in each plan. 

First, the company must establish the “Financing” for the plan through established lenders with favorable terms specifically designed to fund the premiums for life insurance.

The second component is “Insurance” because only certain policies through a small number of companies are selected for use in FIT strategies.  The policies must offer the potential for high cash value growth without risk. 

And, the final component is “Trust.”  FIT plans are generally modeled with a specifically designed trust to own the policy in order to provide for important benefits including preservation of all tax benefits, protection against outside creditors and the availability for access to the cash.

INSCOR announced earlier this month that NBA Hall of Famer Dominique Wilkins has been appointed to its Board of Directors and will act as the company’s spokesman.  It will be the former NBA superstar’s role to establish relationships with sports associations like the NBA and educate its members on the benefits of protecting the wealth they’re building using the company’s FIT plan.  This is a brilliant move by the company as it opens up a large audience for INSCOR’s products.

Protecting high net worth individuals with INSCOR’s FIT plan adds an additional revenue stream to the company’s business model.  This revenue stream combined with INSCOR’s tailored FIT plan to address what is a nationwide problem of nearly $1.5 trillion in unfunded liabilities with regard to Other Post-Employment Benefits (OPEB), the company is eyeing a potentially promising 2013 and future with its products.