Business
Famed NBA Champion, John Salley, to Head INSCOR Inc.'s Sports Division Providing Insurance Solutions for Professional Athletes and High Net Worth Individuals
Famed NBA Champion, John Salley, to Head INSCOR Inc.'s Sports Division Providing Insurance Solutions for Professional Athletes and High Net Worth Individuals.
About this update from Oicintra, Inc.
[{"type":"text","content":"\n \n \n Famed NBA Champion, John Salley, to Head INSCOR Inc.'s Sports Division Providing Insurance Solutions for Professional Athletes and High Net Worth Individuals\n \n \nFamed NBA Champion, John Salley, to Head INSCOR Inc.'s Sports Division Providing Insurance Solutions for Professional Athletes and High Net Worth Individuals\n \n LAS VEGAS, NV--(Marketwired - Oct 14, 2013) - INSCOR, Inc. (PINKSHEETS: IOGA) announced today that Four-time NBA Champion, Actor, and Humanitarian, John Salley, has been named President of the company's newly formed sports division.?John Salley's role at Inscor will be to present the company's Financed Insurance Trust (FIT) plans to professional athletes and high net worth individuals.?He will also be charged with promoting Inscor and its products.\n INSCOR has designed a FIT plan to act as a vehicle in the defense of an individual's ability to maintain his/her high net worth.?A FIT plan is life insurance strategy that finances the cost of a permanent life insurance policy through major lending institutions.?Policy cash values provide collateral and are later used, in part, to retire the loan including principal and interest.\n Under INSCOR's plan the policy holder's assets remain in place and are not used to pay insurance premiums.?High net worth individuals and companies have used premium financing for purchasing life insurance for about 20 years, and the strategy has developed over the years to become the preferred vehicle for large purchases of life insurance among qualifying affluent individuals and companies.?FIT plans can be modeled to not only provide significant volumes of life insurance, but also create substantial cash values that can be accessed to provide a tax-free income stream during retirement.?\n In many cases, depending on age and insurability, FIT plans can be designed with little or no out-of-pocket expense.?The plans provide assurance that an individual's wealth has been protected without the need to liquidate assets to pay insurance premiums.?Financing costs are minimized through secured lending sources backed primarily by policy cash values.\n According to Sports Illustrated magazine, almost 80 percent of National Football League players flirt with bankruptcy only two years after retiring, and 60 percent of National Basketball Association (NBA) players are broke within five ...