KISS frontman Gene Simmons ditched the makeup and platform boots for his newest venture, a life insurance plan pitched to high-net-worth individuals. In his usual flamboyant style, he took to the airwaves to pitch a strategy called “premium financing.” But Eleanor Blayney, consumer advocate for the Certified Financial Planner Board of Standards, says premium financing is the like buying a house with no money down — and no guarantee that the market will continue rising. “Nowhere is the word leverage used, but that’s really what we’re doing here,” she says. If borrowing costs rise or the underlying investments lose value, policyholders or their heirs could lose money.
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Gene Simmons for Cool Springs Life