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What is Premium Financing with Dr. Verneka Murphy
In this episode, Melinda Emerson is joined by Dr. Verneka Murphy to explore the concept of becoming your own bank through premium finance. The discussion begins with an overview of how life insurance plays a crucial role in this financial strategy. Dr. Murphy delves into the potential risks and impacts of premium financing on estate planning, providing listeners with a comprehensive understanding of this approach. She also offers guidance on how to get started with premium financing, sharing insights and best practices.
Dr. Verneka Murphy, is a premium finance expert and business leader. As CEO of Multimillionaire Consulting Group (MCG), she specializes in transforming wealth-building strategies that utilize leverage. Her company’s signature system, The Business Trifecta, integrates business, finance, and tax expertise to help clients maximize growth by benefiting you in all three areas. MCG delivers tailored solutions designed to meet both business and personal financial needs. For more information: https://www.thebusinesstrifecta.com
(0:00) Introduction and topic overview: Becoming your own bank with Dr. Monica Murphy
(1:26) Explanation of premium finance and the role of life insurance
(12:01) Risks and impact of premium financing on estate planning
(17:35) How to get started with premium financing
(21:05) Best business advice from Dr. Monica Murphy
(23:14) Closing remarks and thank yous
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By Melinda Emerson
5
1010 ratings
In this episode, Melinda Emerson is joined by Dr. Verneka Murphy to explore the concept of becoming your own bank through premium finance. The discussion begins with an overview of how life insurance plays a crucial role in this financial strategy. Dr. Murphy delves into the potential risks and impacts of premium financing on estate planning, providing listeners with a comprehensive understanding of this approach. She also offers guidance on how to get started with premium financing, sharing insights and best practices.
Dr. Verneka Murphy, is a premium finance expert and business leader. As CEO of Multimillionaire Consulting Group (MCG), she specializes in transforming wealth-building strategies that utilize leverage. Her company’s signature system, The Business Trifecta, integrates business, finance, and tax expertise to help clients maximize growth by benefiting you in all three areas. MCG delivers tailored solutions designed to meet both business and personal financial needs. For more information: https://www.thebusinesstrifecta.com
(0:00) Introduction and topic overview: Becoming your own bank with Dr. Monica Murphy
(1:26) Explanation of premium finance and the role of life insurance
(12:01) Risks and impact of premium financing on estate planning
(17:35) How to get started with premium financing
(21:05) Best business advice from Dr. Monica Murphy
(23:14) Closing remarks and thank yous