Sentences with phrase «business life insurance such»

The untimely death of an owner, partner, or key person in a business when there is no business life insurance such as a buy / sell insurance policy or key man insurance in place can be the beginning of quick end.

We've had frank discussions about business life insurance such as key man insurance and buy / sell life insurance.

So, the purchase of Business Life Insurance such as Business Credit Life Insurance is essential because it guarantees that the business loan will be re-paid to the lender should the borrower die.

Not exact matches

One advantage C corporations have over unincorporated businesses and S corporations is that they may deduct fringe benefits (such as group term life insurance, health and disability insurance, death benefits payments to $ 5,000, and employee medical expenses not paid by insurance) from their taxes as a business expense.

However, it's a low - cost way to increase your life insurance coverage if you're a young parent or have significant debt that would be passed on to others, such as small business loans.

Term life insurance is especially suitable for those looking to cover short to medium - term liabilities such as a mortgage or business loan.

Life expectancy and retirement aside, if you're purchasing a life insurance policy to protect a specific interest — such as a business loan or mortgage — you may also need to think about the potential duration of that need when considering your optiLife expectancy and retirement aside, if you're purchasing a life insurance policy to protect a specific interest — such as a business loan or mortgage — you may also need to think about the potential duration of that need when considering your optilife insurance policy to protect a specific interest — such as a business loan or mortgage — you may also need to think about the potential duration of that need when considering your options.

Also exempt are life - insurance proceeds, veterans» benefits, Social Security benefits, and income from businesses in which you actively participate, such as S corporations or partnerships.

Hybrid products also open up opportunities to introduce new distribution channels to the business via producers who might prefer to sell benefits such as long care rather than life insurance, Reynolds indicated.

Having your sole proprietorship or individually owned company pay your life insurance premiums so as to deduct these expenses from your business» taxable income would be just such an attempt and is therefore not legal.

(Small businesses may wish to consider purchasing life insurance policies for key individuals, such as an owner or top employee, to help prevent financial distress if that person were to die.)

However, it's a low - cost way to increase your life insurance coverage if you're a young parent or have significant debt that would be passed on to others, such as small business loans.

We provide: • Retirement Services, such as plan rollover options, ** traditional and Roth IRAs, and small business plans • Financial Management, including financial planning, asset and debt management, and estate planning • Insurance Solutions, made up of life, long - term care, and disability protection • Investments, including diversified solutions to help manage and grow assets with stocks, bonds, and mutual funds • Retirement Planning, such as income strategies, pensions, and social security

It is also affordable to buy life insurance on someone else, such as a spouse, child, or even business partner.

Review your term life insurance policy annually as life events occur such as a marriage (or divorce), the birth of a child, buying a home or a second home, or establishing a business.

ART insurance is a great option for someone looking to be insured for a short time, such as entrepreneurs looking to use life insurance as collateral for a business loan.

Business owners who are looking at the long game may also benefit from both when considering needs such as key person (key man) life insurance.

Cash value life insurance can be strategically used to maximize the cash value and tax savings while recapturing debts for financing other necessary items such as vehicles or business expenditures.

In general, life insurance needs are created whenever you have a change in life events such as marriage, starting a family or business, or retirement.

Group II — insurance coverage, i.e., medical, auto, life, renter's insurance (not payroll deducted); payment to child care providers — made to a business providing such services; school tuition; retail stores — department, furniture, appliance stores, specialty stores; rent to own — i.e., furniture, appliances; payment of that part of medical bills not covered by insurance; Internet / cell phone services; a documented 12 month history of saving by regular deposits (at least quarterly / non-payroll deducted / no NSF checks reflected), resulting in an increasing balance to the account; automobile leases, or a personal loan from an individual with repayment terms in writing and supported by cancelled checks to document the payments.

With a bit of effort, you can qualify for better Simi Valley insurance quotes — not just for homeowners policies but also for other policies, such as auto, business, life, and health.

There are other more complex family business planning strategies such as a charitable lead trusts or charitable remainder trusts that also could coordinate with your business continuation life insurance as part of a tax deferment and savings strategy.

Similarly, a business entity such as a corporation or an limited liability company may be the designated beneficiary if a business is purchasing life insurance on a business partner's life as part of an entity purchase buy - sell strategy.

Structuring the life insurance on a key person in such a way as to incentivize the key person to remain at the business until fully vested in the life insurance policy is a fantastic way to promote strong employee loyalty.

Term life insurance is especially suitable for those looking to cover short to medium - term liabilities such as a mortgage or business loan.

If you employ such an individual, you may want to purchase a business - continuation insurance policy addressing a written buy - sell agreement that life insurance would fund.

Mr. Hafen's practice includes advice regarding sophisticated tax, estate, asset protection, and business planning strategies, including the preparation of documents such as wills, living trusts, durable powers of attorney, healthcare directives, asset protection trusts, irrevocable life insurance trusts, gift programs, grantor retained annuity trusts, education trusts, family limited partnerships and limited liability companies, generation - skipping transfers, charitable giving, charitable remainder trusts, private foundations, property agreements, and prenuptial and postnuptial agreements.

This is an excellent rider to consider and is very beneficial in cases of business owners, such as key person life insurance or in a buy - sell agreement.

Permanent life insurance for estate planning and business succession, such as funding buy - sell agreements, is recommended.

The IUL also has a cash value, and is a form of permanent insurance, which is ideal for business succession planning such as funding a buy sell agreement with life insurance or key person insurance.

Term is a great option when you need life insurance for a specific period of time, such as to protect the household's primary income earner, cover SBA or business loans, or meet the requirements of a divorce decree requiring life insurance.

If you are in a rush for time and need the life insurance for a court order such as divorce cases or obtaining a loan for a real estate purchase then you will be in business with a Term life insurance with No Medical Exam type policy.

Cash value can be used for business succession planning, such as funding buy - sell agreements with life insurance.

Consider whole or universal life insurance for estate planning or business succession planning, such as funding a buy - sell agreement.

And on certain life insurance policies, such as those used to fund buy sell agreements, irrevocable life insurance trusts or key person business insurance, a better rate class may mean thousands of dollars in savings.

In cases like these that have the potential to become more complicated later on down the road, many times the «business» will elect to take out a permanent cash value life insurance policy, such as indexed universal life, on the individuals in question rather than try to make predictions on which term length would be most appropriate.

This is a great way to create a business succession plan with life insurance, such as funding a buy sell agreement, or key man business insurance.

Also, if you hate needles and / or need coverage asap, for things such as life insurance to secure a small business loan or to meet the requirements of a divorce settlement, consider going with a top no exam company.

Generally, they were mutual companies that sold insurance to farmers and others in specific agricultural businesses, such as millers, at a time when a quarter of the nation's population lived on farms.

Additionally, MEG specializes in key man insurance, business life and disability insurance and in assisting individuals with serious medical conditions such as diabetes, prostate cancer, sleep apnea and heart disease find competitively priced life insurance.

Mostly, life insurance plans are used to replace income in your absence or to pay off large financial obligations, such as a business loans.

It is also affordable to buy life insurance on someone else, such as a spouse, child, or even business partner.

Fox Business reported that an individual's taxable estate includes all money in a bank and retirement account, the value of assets such as a home or car, and a life insurance policy.

However, they also offer financial services such as business insurance and life insurance.

As a general rule, you can only take out life insurance on someone that you have an insurable interest in such as a relative, domestic partner, or business associate.

The death of a business owner or partner in a business can also bring the end to the business; life insurance plays a vital part in protecting the integrity of a business if such event were to occur.

For instance, a life insurance contract can be structured in such a way to ensure that the remaining business owners have the funds to buy the company interest of a deceased owner at a predetermined price.

For instance, major life changing events such as marriage, divorce, the birth or adoption of a child, or the purchase of a new home or business will all constitute a likely change in the amount of life insurance proceeds that your survivors will need.

Decreasing term life insurance is also a good way to ensure that any large loans, such as business loans or a mortgage, are paid off should something happen to the insured.

Review your term life insurance policy annually as life events occur such as a marriage (or divorce), the birth of a child, buying a home or a second home, or establishing a business.