Straight Commission	Find out more	Non-Controlled Foreign Corporation Reinsurance Company	Find out more
Experience Rating Retro	Find out more	Services Provided by First Innovations and the Direct Writer	Find out more
Controlled Foreign Corporation Reinsurance Company	Find out more

Credit Insurance is a valuable product that provides monthly payments on your loan in the case you are disabled/sick/injured and will pay off your loan for your family in the event of your death.

Providing your customers with the ability to protect their loved ones and their credit is Good Business... Very Good Business.

First Innovations, Protective Life, Enterprise Life (EFG) and Servco Life (GSFS), have formed a partnership to provide the most innovative credit insurance products and profit programs to our agents and dealerships.

Straight Commission
Dealerships can realize maximum cash flow income by taking the highest dealership commissions available.

Experience Rating Retro
Dealerships with good premium volume can participate in underwriting profits and investment income, as well as high up front commissions. Dealership will receive an upfront commission. First Innovations/Direct Insurer/Agent will take a small administration fee. The remainder will be placed into reserves. As reserves earn out, claims are subtracted. Any excess reserves are paid to the dealership annually. In addition, investment income is paid on the premium reserves and pass on to the dealership annually.

Controlled Foreign Corporation Reinsurance Company (CFC)
Dealerships with enough premium volume can form their own reinsurance company. In reinsurance companies the dealership receives 100% of the underwriting profit and 100% of the investment income. First Innovations will form a reinsurance company for the dealership for approximately $1500. The company will be chartered in the Turks and Caicos or Nevis Islands. The reinsurance company will receive favorable income tax consideration due to small life company status as defined by the IRS. The dealership can control its investment income on all excess reserves, capital and surplus. When the dealership decides to withdraw income it can do so by declaring dividends, making itself a loan or dissolving the company and only paying capital gains taxes.

Non-Controlled Foreign Corporation Reinsurance Company (NCFC)
Dealerships with enough premium volume can form their own reinsurance company. In reinsurance companies the dealership receives 100% of the underwriting profit and 100% of the
investment income. First Innovations/Direct Writer will place the dealership in a NCFC reinsurance company formed in the Turks and Caicos Islands. As a NCFC the reinsurance company will be subject to NO income taxes on any profits or investment income until the money is drawn out and repatriated into the United States. The recommended method for profit withdrawal is to dissolve the company and pay only capital gains taxes.

Services Provided by First Innovations and the Direct Writer

• Corporation Formation and Filings in the Turks and Caicos/Nevis Islands.
• Preparation of all initial corporation papers and articles of incorporation.
• First Innovations's reinsurance accountants (KPMG) will prepare the annual statement and federal income tax returns.
• First Innovations will prepare production reports, experience reports, reinsurance cession statements and custodial account monthly reports.
• Monthly Ceding
• Claims Processing and Payments
• Income development and training to increase production