Your business is growing and your company has a life of its own. The only problem is that the more revenues you bring in, the more taxes you have to pay. You can delay paying taxes by using the tools that the government provides and that you already need or have.
Universal Life (UL) Insurance was actually created with this need in mind. As a business owner you no doubt already have a need for life insurance. You may have a family that needs income and the business (clients, vendors and employees) needs a continuation plan.
The tax-free death benefit provides cash that can be used for replacement income or, if you have partners, can buy out the deceased partner's estate. The estate needs cash and your partners need your company shares. By adding additional cash deposits into the UL policy you can transfer dollars from your business to the policy, delaying all taxes until either you die or sell your interest in the company. You get a decent return on your money that grows faster by deferring the taxes. It is important to know that there is no way to eliminate taxes in this scenario. However, you can use the money to your advantage before the tax bill comes.
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