Split-Dollar Critical Illness Insurance allows you to reduce risk and optimize tax in your company. How it Works Critical Illness insurance pays you a lump sum of cash when you are diagnosed with a life-threatening illness. Like other insurance contracts, you pay for the premiums each year (or,...
Read PostBuy Sell Agreement Funding (Disability Insurance) – PART 2
(Back to Part 1 HERE) Are there other options? If your business partner dies as a result of their illness or injury, you have the option of a share buyout. You can design a company Buy Sell Agreement to activate when your business partner falls ill, due to cancer for example, with Critical...
Read PostBuy Sell Agreement Funding (Disability Insurance) – PART 1
In our previous post, we discussed how to purchase the shares off the estate of a recently deceased partner, allowing you to avoid being in business with your former partner’s spouse. The reason for this is that they most likely would've had no involvement in your business before, and wouldn't be...
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