The Bank of Austin Launches Life Insurance Premium Financing

Cheerful Elderly Couple Enjoying Drinks Outside
09/1/2021

The Bank of Austin has announced the addition of Life Insurance Premium Financing to their list of financial services for its private banking clients.

Bruce Irick, Executive Vice President, Private Banking Manager, is spearheading the launch of the service. As head of the private banking division at The Bank of Austin, Bruce forms meaningful relationships with clients to help promote their financial growth. With over 30 years of experience at both large and small banks, Bruce’s extensive knowledge serves as a valuable benefit for Austin’s business owners.

Life Insurance Premium Financing strategies provide a customized wealth management tool to help high-net-worth clients realize long-term financial goals and preserve a financial legacy. When positioned appropriately through the wealth planning and advisory process, Life Insurance Premium Financing may provide a viable funding alternative for these individuals, with an emphasis on funding large life insurance premiums.

This strategy can help safeguard against the unexpected, diversify long-term wealth accumulation with life insurance strategies, provide tax efficient long-term funding strategies to meet estate liquidity needs, and meet wealth transfer objectives in estate planning while preserving a financial legacy.
“Life Insurance Premium Financing allows us to work with various centers of influence, whether it's estate planning attorneys or CPAs, or life insurance agents," says Bruce. "The loan itself is not the ultimate solution. It's an assist to the ultimate solution. And the ultimate solution is to do good estate planning and use the irrevocable life insurance trust tool to buy the policy. The loan allows our clients to manage their liquidity and cash flow better and accomplish this goal.”
With the addition of the Life Insurance Premium Financing solution to the private banking offerings, this allows The Bank of Austin to offer a one-stop, boutique banking experience for clients that sees them through the life of their entrepreneurial journey.
“I want our clients to know that The Bank of Austin is very capable of assisting them in wealth management and trust and estate planning. And Life Insurance Premium Financing is a great tool for that.”
From the inception of an entrepreneur’s idea, to working with a relationship manager to make it a reality, to growth through treasury management and specialty financing opportunities, to private banking, wealth management and trust and estate planning: The Bank of Austin can help innovators power the possible every step of the way.




Is Life Insurance Premium Financing Right For You?

Take this quiz to discover if Life Insurance Premium Financing Coverage is a fit for your needs:

BRUCE IRICK Executive Vice President, Private Banking Manager At Texas Partners Bank

BRUCE IRICK

EVP, Private Banking Manager
Let us help you maximize your business endeavors. 
Email Bruce for assistance with a curated and customized approach to wealth management tools that preserve financial legacy.

Related News

Blake Bratcher, Vice President, Trust & Estate Officer at Texas Partners Bank
07/26/21
INTRODUCING BLAKE BRATCHER,
VP, TRUST & ESTATE OFFICER 

 
 
Austin Downtown Skyline Near Bank of Austin Member of Texas Partners Bank
11/06/20
TEXAS PARTNERS BANK
MERGER FAQs
 
 
 
McKenzie Doss, Vice President, Commercial Relationship Manager at Texas Partners Bank
06/10/21
MCKENZIE DOSS, VICE
PRESIDENT OF COMMERCIAL
BANKING | PARTNERS PROFILE