Famed NBA Champion, John Salley, to Head INSCOR Inc.'s Sports Division Providing Insurance Solutions for Professional Athlete...
October 14 2013 - 3:08PM
Marketwired
Famed NBA Champion, John Salley, to Head INSCOR Inc.'s Sports
Division Providing Insurance Solutions for Professional Athletes
and High Net Worth Individuals
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.
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.
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.
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.
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 years of
retirement. Inscor will turn to the 15-year NBA veteran to
market its FIT plan to these athletes and other high net worth
individuals like entertainers.
John Salley will use his many years in the spotlight to
introduce the company's products. Salley played college
basketball at Georgia Tech under legendary head coach Bobby
Cremins. From there Salley went on to become the first NBA player
to win four championships with three different teams. During
the 1980s, Salley was a member of the Detroit Piston "Bad Boys"
squad. Salley went on to play alongside Michael Jordan as part
of the Chicago Bulls 1996 championship team. In 1999,
well-known NBA coach Phil Jackson invited Salley to come to Los
Angeles to provide experience and leadership to the 1999-2000
Lakers' championship team.
Salley has been busy since retiring from the NBA. He's
acted in several Hollywood hits including Bad Boys 1 & 2 with
Will Smith and Martin Lawrence, he's worked in television and
radio, and he owns his own production company. John is
actively involved with Operation Smile, PETA and the fight against
Diabetes. In addition, John is involved with PCRM and visited
Washington in Nov '09 and May '10, speaking to Congress about the
Child Nutrition Act, asking Members to support legislation that
would increase vegetarian options in meals served in public
schools.
About INSCOR, Inc.
INSCOR, Inc. specializes in the creation and implementation of
flexible and effective insurance solutions for organizations
serving as many as tens of millions of members across the globe. In
the U.S., the Company markets its FIT OPEB plan to
municipalities and corporations as a low-cost solution to funding
retiree and other employee benefits. A FIT plan variation
also works for affluent individuals, entertainers and professional
athletes -- whether for estate planning or funding cash flow needs.
INSCOR's "FIT" strategy uses a combination of favorable financing
terms, innovative uses of specific life insurance products and
trusts -- all of which result in minimum levels of out-of-pocket
costs for producing significant future funding and revenue stream
opportunities. For more information, please visit
www.ins-cor.com.
Contact: Marmel Communications, LLC Marlin Molinaro Phone: (702)
434-8692
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