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When a business co-owner needs more flexibility in how life insurance funds will be used, you may want to consider this strategy.
An entity purchase buy-sell agreement may work well for businesses with multiple owners, where the owners are different ages or the business wants to keep assets on the books.
Do your clients need to put together a buyout agreement for their business? For two business owners, a simple cross purchase buy-sell can work well.
If your clients employ key people who are critical to their business's success, they may want to consider protecting the business in case something happens to those employees. One way to do that is through Key Person life insurance.
If your business owner clients have important, highly paid executives who need to save more for retirement, they may want to consider offering a Bonus and Tax Loan (BATL) Plan® an Executive Bonus plan combined with loans from the employer to pay the taxes on the bonuses.
Performing a capital needs analysis can help your clients determine how much life insurance protection they need and better prepare them for the future.
During retirement, your clients can help keep their tax bill down by accessing additional funds from cash value life insurance.
If your high-net worth clients need life insurance protection but don't want to liquidate potentially high-performing assets, they may be able to finance the premiums.
For clients who have a heavy concentration of one stock in their portfolio, you may want to suggest using life insurance to help diversify and transfer wealth efficiently.
Life insurance products are issued by Equitable Financial Life Insurance Company (New York, NY) or Equitable Financial Life Insurance Company of America, an Arizona stock company and are distributed by Equitable Distributors, LLC.
Equitable Financial and its affiliated do not provide legal or tax advice. Clients must rely on their own advisors on these matters.
References to Equitable on this page represent both Equitable Financial Life Insurance Company and Equitable Financial Life Insurance Company of America, which are affiliated companies.
For Financial professional use only/Not for distribution to the public
GE-5997942.1 (11/2023) (Exp. 11/2025)