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...
Read PostKey Person Protection
In this post, we'll be discussing Key Person Protection. Think about this: What would YOU do if you lost a Key Person in your company, someone you rely on heavily for your business? Corporate Owned Life Insurance can save the day. In our previous blog post, we discussed how it can be structured to...
Read PostCorporate Owned Life Insurance
Corporate Owned Life Insurance is a financial tool that can be used in a number of smart ways to protect one of your greatest assets: your business! To start, you can use life insurance to protect: Business debts The loss of a key person in your company (a.k.a. Key Person...
Read Post