VIEWpoint Issue 2 | 2022
Inflation Reduction Act: Highlights of Key Changes for You and Yo...
2022-2023 Tax Planning Guide
As a business owner, are you leveraging your assets to ensure the future of your business is protected? While business succession planning may not immediately be on the horizon, there are some creative and practical ways to leverage your current assets, such as deploying them into a high cash value life insurance plan.
A one-way, buy-sell agreement tied to a high cash value life insurance policy is a low-risk method to protect the future of the business while simultaneously increasing the value of the idle cash.
Doeren Mayhew Insurance Group‘s professionals suggest the five steps below to implement an insurance plan for your business:
As outlined above, leveraging an insurance plan can be a critical asset in your business. Other key benefits of establishing a one-way, buy-sell agreement tied to it includes:
Consider this case study example to highlight how an insurance plan can help leverage your idle business assets.
Susan, a 50-year-old business owner, has two big concerns:
With the future in mind, Susan decides to purchase a high cash value life insurance policy and create a succession plan to help ensure the business continues to thrive beyond any unforeseen circumstances.
As outlined above, implementing a high cash value life insurance policy not only protects yourself, but also your family and business. To help determine if this insurance option is the right fit for you, contact our trusted insurance advisors at Doeren Mayhew Insurance Group today.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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