The financial planning and wealth management firm was created to educate and assist people in tax mitigation, and currently employs a strategy variation of Premium Finance – developed by NIW
Norman, Oklahoma–(Newsfile Corp. – April 19, 2022) – Cornell Financial Group is delighted to announce that it has associated with a system that will allow its clients a way to ease taxes. The financial planning and wealth management firm revealed that it had made some adjustments and tweaks to an old strategy variation of Premium Finance, that was previously only used by wealthy families with $10m+ net worth, since the 1960s.
According to Cornell Financial Group, the product named Kai-Zen® was developed by NIW and possesses a unique trust structure and plan set up, combined with the loan safety that allows lenders to issue loans to clients without having to underwrite them financially.
“Very few benefits agents are familiar with the concept as it was historically just used in estate planning and by the very wealthy. Fewer, still, would have the speciality to repurpose the plan to this application,” Kent Cornell added. “Kai-Zen® is fundamentally different from traditional Premium Finance because the client is not qualifying for a loan or paying interest.”
The tax planning firm says the redesigned and de-risked product will accommodate the unique complexities of supplemental income. Funds contributed to the plan keep the bank loan secure even in under-performing conditions, while the zero floors inside the insurance product mean that, unlike a stock, bond or property, the underlying asset cannot have an investment loss.
Cornell Financial Group
About Cornell Financial Group
Cornell Financial Group is a tax planning and wealth creation firm developed to educate and assist people with tax mitigation using various strategies and tactics as the circumstances warrant. The company maintains that it prefers to think “out of the box” and is not afraid to challenge conventional wisdom in its approach to investing and preserving wealth. They also help with investment planning, financial planning, tax planning, disability insurance, life insurance, long term care insurance, and more.
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