ReVera Life Finance is the 1premium finance marketing venture of ReVera Partners, LLC (a PartnersFinancial Member Firm). This venture was undertaken with the goal of becoming a preferred access point for premium finance in the industry.
Our Cleveland office is managed by Richard T. Heffern. Our combined experience in finance, banking, and life insurance brings an expertise to all facets of premium financed insurance sales.
ReVera Life Finance acts as a financial intermediary between Lending institutions and producers/advisors. We have the ability to provide financing only or take a greater role in the case design, presentation, placement, and funding of your life insurance policies.
Currently, a suite of preferred Lenders is available to fund premiums. The appropriate Lender(s) will be chosen after evaluating a client's specific needs, financial portfolio, and risk parameters.
We believe premium financing opens up many opportunities to your clients; the most significant is leveraging of productive asset. We encourage you to contact us to help maximize the benefits of funding life insurance with premium financing.
Please stop by and visit us at our offices in Cleveland, OH. We look forward to meeting you!
1Premium Financing is complex and involves many risks, such as the possibility of policy lapse, loss of collateral, interest rate and market uncertainty, and failure to re-qualify with the lender to keep the financing in place and maintain the desired level of insurance protection. Financing is subject to the lender’s collateral and financial underwriting requirements. Financing lenders typically require additional collateral during the early years of a policy in the form of cash, cash equivalents, marketable securities, a personal guaranty or a letter of credit from a bank approved by the lender. Interests in closely held businesses and real estate are not generally acceptable collateral. In certain situations, additional out-of-pocket contributions may be required to retire the debt and/or maintain the desired level of insurance protection. Insurance proceeds will be lessened by the loan amount and the any required level of coverage should take this fact into consideration. A well planned exit strategy should be in place prior to accepting any financing arrangements.