Insuring your business. Ensuring your future. Private Insurance Companies
|
|
- Buddy Hall
- 8 years ago
- Views:
Transcription
1 Insuring your business. Ensuring your future. Private Insurance Companies
2 Private Insurance Company Basics A Captive Insurance Company provides insurance for its owner. Types of Captive Insurance companies: Pure Single parent Group Rent - a - captive Private Over 80% of Fortune 500 Companies use a form of a Captive Insurance Company. Enterprise Risk Strategies Page 2
3 Private Insurance Company Growth With the continued awareness and recognition of opportunity, the captive insurance company concept is now entering the middle market through the use of Private Insurance Companies. Number of Captives Worldwide 7,000 6,000 5,000 4,000 3,000 2,000 1, Source: Captive Insurance Company Directory Enterprise Risk Strategies Page 3
4 Private Insurance Company Benefits Protect assets Investment income Reduce insurance costs Business expense Versatility unmatched Profit Wealth transfer Custom coverage Estate planning Wealth accumulation
5 Who Should Consider a PIC? Private / Closely held organization Highly compensated professionals Minimum gross revenue of $5 million Significant Uninsured Risk Consistently profitable Entrepreneur Strong personal cash flow Enterprise Risk Strategies Page 5
6 What Type of Business Can Have a PIC? Construction Finance Energy Healthcare Retail Transportation General Contracting Professional Athletes And many more... Enterprise Risk Strategies Page 6
7 PIC Basic Concept Business Premiums Premiums are a business expense ERS Insurance PIC Premiums are not taxable income for the PIC PIC Owner 1. Surplus builds on tax deferred basis 2. Liquidation at long-term capital gains rate Assets Enterprise Risk Strategies Page 7
8 Who Can Own the PIC? Individuals Trusts / FLPs LLCs Partnerships Corporations Enterprise Risk Strategies Page 8
9 Premium to Assets This is what it looks like... An example of a Private Insurance Company s financial performance with annual premiums of $1 million PIC Structure Premium $1,000,000 Claims: Mean Claims Amount $50,000 Standard Deviation $10,000 Custom Claims Loss: Year Claim Amount Custom Claims Loss 1 3 $250,000 Custom Claims Loss 2 7 $1,000,000 Maximum Distribution Percentage 3.0% Expenses Set-up Fee $50,000 Management Fee (starts in year 2) $39,000 Minimum UP & Re Fee (Threshold = $1.0 Mil) $30,000 If Above Threshold (% of Premium) 3.0% Benefit of PIC= Net Premiums + Investment Returns (after tax) Using PIC $8,160,872 NOT Using PIC $5,842,529 Net Benefit $2,318,343 Net Benefit of PIC 39.7% ROI on Gross Premiums 23.2% Distribution Planned Distribution Yes Rate 5.0% Start Date (year of distribution, must be >2) 3 Frequency (every N years) 1 Years Inside PIC 10 Business Structure LLC Planned Liquidation Yes Investment Returns First Year - Cash Return 0.25% Expected Yield 3.0% Expected Capital Appreciation 4.0% Asset Type Tax Status Taxable Tax Rates Federal Rate 39.0% State Rate 5.0% Capital Gains Tax 23.8% *Actual setup fees will vary depending on domicile chosen and whether captive type is a Pure, Sponsored Cell or Delaware Series Business Unit. Enterprise Risk Strategies Page 9
10 Premium to Assets Cumulative Benefit of PIC vs Cumulative Benefit Not Using PIC Millions $10 Cumulative Value Using PIC Net Distributions (using PIC) Cumulative Value Not Using PIC Net Distributions (not using PIC) $5 Year $0 Enterprise Risk Strategies Page 10
11 The Details If you have something at risk, you think differently. ~ HENRY KRAVIS
12 The Code TITLE 26 > Subtitle A > CHAPTER 1 > Subchapter L > PART II > 831 Tax on insurance companies other than life insurance companies: General rule: Taxes computed as provided in section 11 shall be imposed for each taxable year on the taxable income of every insurance company other than a life insurance company (b) Alternative tax for certain small companies (1) In general In lieu of the tax otherwise applicable under subsection (a), there is hereby imposed for each taxable year on the income of every insurance company to which this subsection applies a tax computed by multiplying the taxable investment income of such company for such taxable year by the rates provided in section 11 (b). Companies to which this subsection applies (A) In general This subsection shall apply to every insurance company other than life (including interinsurers and reciprocal underwriters) if- (i) the net written premiums (or, if greater, direct written premiums) for the taxable year do not exceed $1,200,000, and (ii) such company elects the application of this subsection for such taxable year. The election under clause (ii) shall apply to the taxable year for which made and for all subsequent taxable years for which the requirements of clause (i) are met. Such an election, once made, may be revoked only with the consent of the Secretary. c) Insurance company defined For purposes of this section, the term insurance company has the meaning given to such term by section 816 (a). [1] Enterprise Risk Strategies Page 12
13 Private Insurance Company Basics The net written premiums (or, if greater, direct written premiums) for the taxable year do not exceed $1,200,000 Non-qualifying year 2,000 1, Premium in $K Written premiums cutoff? Enterprise Risk Strategies Page 13
14 Safe Harbors On December 30, 2002 the IRS issued three revenue rulings regarding the deductibility of insurance premiums. The IRS provides safe harbor if a PIC s operations fall under one of the following three revenue rulings: IRS Safe Harbors for Private Insurance Companies Pool ( ) Multiple Subsidiaries ( ) Group Private Insurance Company ( ) Enterprise Risk Strategies Page 14
15 Basic Structure of PIC Insurance Policies Business Premium ERS Premium ERS Insurance Reinsurance (risk sharing and distribution agreement) Private Insurance Company Reinsurance Premiums Enterprise Risk Strategies Page 15
16 Basic Risk Structure (PIC Reinsures ERSI) $1M claim made example Risk Pool: $250K - $1M Risk pool distributes remaining $750K per quota-share: $750K x 3% = $22,500 per participating PIC Retention: $0 - $250K Related company s PIC responsible for first $250K 1. Facultative certificate = reinsure first $250K layer of direct business risk 2. Quota-share certificate = 3% of each excess layer above $250K Enterprise Risk Strategies Page 16
17 PIC Considerations Initial creation expense and capital Exposure to risk shifting and risk distribution Limited to 14 months Limited to 3% per loss in ERSI exceeding $250,000 ERSI will participate in paying of any shared loss Enterprise Risk Strategies Page 17
18 Enterprise Risk Strategies Company Overview Attention to detail allows ERS to deliver innovative solutions.
19 Enterprise Risk Strategies (ERS) Private Insurance Company Management, Turnkey Services, Consulting, Formation Majority owned by Montage Investments Over 100 combined years of alternative risk and insurance experience IRS compliant / IRS safe harbor Turnkey Private Insurance Company, consulting, incorporation and management Industry approved underwriting and policy forms Team of CPAs, attorneys, business and insurance professionals ERS does not replace any existing insurance professionals Enterprise Risk Strategies Page 19
20 Experienced Team Robert Nizzi, President Responsible for the overall operations of ERS, focusing on business development. Bob has over 20 years of experience in the insurance industry, including over 15 years specifically in alternative risk financing. Bruce Slapper, Executive Vice President Primary responsibilities include client and product development. Bruce began his career in retail and wholesale insurance in He has been a key participant in the design, formation and operation of alternative risk / Private Insurance Company programs for a number of nationally recognized corporations. His expertise covers a varied client base and is consistently focused on client solutions. Luis Filipe, Vice President As Vice President, Director of Captive Operations, Luis is responsible for the management of all PIC s and is the Financial officer for the Insurance Operations. Luis began his career in the PIC Management industry in 1999 in the Cayman Islands moving to Arizona in 2006 to join USA Risk Group. Prior to that, he was with Liberty Mutual, and a Controller at Canadian Surety. Luis received a BBA from York University and obtained the Chartered Management Accountant (CMA) designation in Enterprise Risk Strategies Page 20
21 Claims management Private insurance company management Audit Actuarial Taxes Overview of Services We manage your insurance company so you can manage your business. Accounting Domicile regulatory Reinsurance Risk management Enterprise Risk Strategies Page 21
22 ERS Insurance (ERSI) Exchanges a portion of the insurance premiums received from affiliates (related risks), in return for premiums from non-affiliates (unrelated risks). Satisfies requirements regarding risk shifting and risk distribution Satisfies requirements for insurance premium deductibility under Revenue Rule Lowers variation in annual claim costs, providing earnings consistency to PIC Enterprise Risk Strategies Page 22
23 Insurance Policies and Rates Industry-based policy forms have been customized to fit our PIC Program. Coverages not readily available in the insurance marketplace Insurance policy exclusions Self insured exposures Premiums are determined by utilizing: Industry based rates Underwriters Actuaries Enterprise Risk Strategies Page 23
24 Example Coverage Descriptions Governmental Actions Protection This coverage reimburses the Insured for expenses incurred as a result of administrative actions resulting in assessments, penalties, fines and sanctions, or any costs to ensure compliance with the rules, regulations and standards of any, local, county, state or federal government agency; any professional license(s) mandated by any local, state or federal government agency. Legal Expense Protection Reimburses Insured for legal costs / expenses paid by the Insured that are not covered under their primary market policy. Income Protection: Critical Employee This coverage reimburses the Insured for loss of business income sustained by the Insured caused by or resulting from the loss of a critical employee. Reimburses the Insured for costs incurred to recruit, relocate, and train the critical employee s replacement. Income Protection: Critical Contract This coverage reimburses the Insured for loss of business income and/or increased cost of supplies, products or services caused by or resulting from the loss of a critical contract. Income Protection: Critical Customer This coverage reimburses Insured for loss of business income and/or increased cost of supplies, products or services caused by or resulting from the loss of a critical contract. Enterprise Risk Strategies Page 24
25 Versatility Unmatched Intellectuals solve problems, geniuses prevent them. ~ ALBERT EINSTEIN
26 Case Study 1 Cover hidden risks Business Insurance premiums for hidden risks Private Insurance Company Most businesses have risks that they currently do not insure against PIC can write insurance policies to cover hidden risks PIC owners have greater control of claims process Premium payments are treated as a business expense The PIC can receive up to $1.2 million in total premiums per year to qualify Enterprise Risk Strategies Page 26
27 Case Study 2 Protecting assets Litigation Attorneys Private Insurance Company (protected assets) Creditors Business Debts Wealthy businesses and owners are litigation targets Creditors have no legal claim on PIC s assets Only PIC insured can make an insurance claim The PIC can receive up to $1.2 million in total premiums per year to qualify PIC structure creates independent wealth and investment diversification Foreign PICs may have extra layer of protection Enterprise Risk Strategies Page 27
28 Case Study 3 Building an investment portfolio Business 1 Premium Business owner Business 2 Business 3 Premium Premium Private Insurance Company Investments (stocks, bonds, mutual funds, other investments) Up to $1.2 million in premiums annually from one or more businesses Owner s investment advisor makes investment decisions: stocks, bonds, mutual funds, other investments Owner builds investment portfolio with underwriting profit Portfolio represents claim reserves of PIC, and must be managed with care Enterprise Risk Strategies Page 28
29 Case Study 4 Buy Sell Partner A Partner B 50% Private Insurance Company 50% Partners A and B own Business and the PIC A and B enter into Buy-Sell Agreement PIC contains several years of pre-tax premium payments, which could total several million dollars Upon buy-sell trigger, the PIC s assets can be used to purchase A s ownership interests Net Result: Ready cash to fund buy-sell Buy-sell funded with underwriting profit Enterprise Risk Strategies Page 29
30 Case Study 5 Doctors medical clinic Dr. A Dr. B Dr. C Dr. D Doctors medical clinic Private Insurance Company $ If Dr. A retires, then assets can be paid out of PIC to redeem Dr. A s ownership in the Medical Clinic and the PIC A group of doctors can each own stock in the Medical Clinic and the PIC A variety of insurance premiums can be written into the PIC If Dr. A wishes to retire, the PIC can redeem his stock with assets (e.g., 25% of the assets) of the PIC, and the remaining doctors can continue with the PIC Additional doctors can be added to the PIC over time Enterprise Risk Strategies Page 30
31 Moving Forward The best way to predict the future is to create it. ~ ABRAHAM LINCOLN
32 What s Next? 1. Client or advisor to complete Client Information Worksheet 2. ERS examines information provided by Client 3. Client and advisors to discuss with ERS 4. ERS prepares Viability Analysis 5. Client and advisors to discuss with ERS 6. Sign Agreement to form PIC Questionnaire Risk Audit and Viability Analysis Discussion with ERS advisors Private Insurance Company Incorporation Enterprise Risk Strategies Page 32
33 Disclaimer IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the U.S. Internal Revenue Service, we inform you that any U.S. federal tax advice contained in this PowerPoint is not intended or written to be used, and cannot be used, for the purpose of (a) avoiding penalties under the U.S. Internal Revenue Code or (b) promoting, marketing or recommending to another party any transaction or matter addressed herein. The views and statements expressed in this presentation are for general information only. ERS, LLC is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This presentation provides general information about certain legal and accounting issues and should not be regarded as rendering legal or accounting advice to any person or entity. As such, the information is not privileged and does not create a client relationship with the companies, or any of its employees. This presentation does not constitute an offer to represent you, and you should not act, or refrain from acting, based upon any information so provided. In addition, the information contained in this presentation is not specific to any particular case or situation and may not reflect the most current developments. Enterprise Risk Strategies Page 33
34 Contact Us Robert Nizzi, President Enterprise Risk Strategies Tomahawk Creek Parkway, Suite 200 Leawood, Kansas t: e: Insuring your business. Ensuring your future. Enterprise Risk Strategies Page 34
35 PPT-ERS-OV
Introduction to Private Insurance Companies
Introduction to Private Insurance Companies PIC applications Cover risk not serviced in insurance marketplace Enhance risk management program Prefund large deductible to mitigate unforeseen balance sheet
More informationRISK WELL REWARDED CAPTIVE INSURANCE AND ALTERNATIVE RISK SOLUTIONS FOR THE MIDDLE MARKET ARTEX RISK SOLUTIONS, INC
SM RISK WELL REWARDED CAPTIVE INSURANCE AND ALTERNATIVE RISK SOLUTIONS FOR THE MIDDLE MARKET ARTEX RISK SOLUTIONS, INC For many years large corporations have used alternative risk transfer strategies to
More informationCaptive Insurance Company
Captive Insurance Company Captive Insurance Companies (referred to as Captives) and also known as Closely Held Insurance Companies (CHIC), have become a commonplace form of alternative risk transfer and
More informationRevenue Ruling 2002-89 states that a Captive that receives 50% of its premiums from unrelated entities will achieve adequate risk distribution.
Captive Insurance: Frequently Asked Questions 1. Q: How is the Captive formed to ensure it is a true insurance arrangement? A: In order to have legitimate Insurance, there must be adequate risk transfer
More informationWhat are Captive Insurance Companies?
What are Captive Insurance Companies? Captives offer unparalleled benefits for the companies that use them. They allow a company to obtain insurance coverage that is tailored to its unique risks, rather
More informationJune 11, 2015 by Robert Boland, J.D., L.L.M., and Thomas Cifelli, J.D., CPA* (*inactive)
How Can Successful Medical Marijuana Business Owners Improve Risk Management, Reduce Taxes, and Protect Wealth? Create Your Own Captive Insurance Company (CIC). June 11, 2015 by Robert Boland, J.D., L.L.M.,
More informationCaptive Insurance Companies
Captive Insurance Companies Presented to: CPA Manufacturing Services Association Matthew J. Howard, JD, LLM Robert N. Greenberger, CPA/PFS,AEP Moore Ingram Johnson & Steele, LLP Habif Arogeti & Wynne,
More informationMicro Captives: The Insurance Company You Keep
Micro Captives: The Insurance Company You Keep Dallas Bar Association April 4, 2016 Cindy L. Grossman 100 CONGRESS AVENUE, SUITE 1440 AUSTIN, TEXAS 78701 phone 512.767.7100 fax 512.767.7101 WWW.GSRP.COM
More informationSIIA A2: Introduction to 831(b) Captives
SIIA A2: Introduction to 831(b) Captives Park E. Eddy, MBA Active Captive Management, LLC peddy@activecaptive.com 949 7270155 Lawrence Prudhomme, CPA, ACI GPW and Associates, Inc. lprudhomme@gpwa.com 602
More informationANTHONY M. SARDIS, JD, LLM
YOUR WS+B TEAM ANTHONY M. SARDIS, JD, LLM PRESIDENT, IIAG PROFESSIONAL EXPERIENCE INDUSTRIES Insurance President of Insurance & Investment Advisory Group (IIAG). Consults with individuals and businesses
More informationThe Right Prescription? Should Your Company's Medical Benefits Be Insured Through a Captive Insurance Company?
The Right Prescription? Should Your Company's Medical Benefits Be Insured Through a Captive Insurance Company? Kevin G. Fitzgerald and J. Michael Davis, Foley & Lardner LLP; and Troy M. Filipek and Travis
More informationGrowing numbers of publicly traded companies, large and
Captive Insurance Companies: A Growing Alternative Method of Risk Financing PHILLIP ENGLAND, ISAAC E. DRUKER, AND R. MARK KEENAN The authors explain how a captive insurer can serve as a funding or financing
More informationManagement Alta s team of professionals set us apart. Our associates are CPAs, attorneys, business, and insurance professionals with the most
Management Alta s team of professionals set us apart. Our associates are CPAs, attorneys, business, and insurance professionals with the most extensive, sophisticated experience in the Captive industry.
More informationYear End Gifts and Investments
Wealth Planning Year End Tax Tips The end of every year poses a critical deadline for utilizing certain tax benefits. The following covers various items to address in your annual tax, estate, retirement
More informationInsights on... WEALTH PLANNING CAPTIVE INSURANCE. What Closely Held Business Owners Need to Know
Insights on... WEALTH PLANNING CAPTIVE INSURANCE What Closely Held Business Owners Need to Know OVERVIEW Risk is a fact of business. Insuring risk is frequently on the minds of business owners. Increasingly
More informationForming a Captive: A Strategic Solution for Closely Held Companies
Forming a Captive: A Strategic Solution for Closely Held Companies Risk Management Answers Risk Solutions to Reduce Cost and Increase Profit RiskManagementAnswers.com Stephen B. Paulin, CIC spaulin@sullicurt.com
More informationCaptive Insurance! Basic Taxation
New Jersey Captive Insurance Association Presents Captive Insurance! Basic Taxation Sponsored by Presented by Christopher J. Ridge, JD, MS (RM)! Manager - Alternative Risk Finance! Perr&Knight! Harborside
More informationIMPACT. May/June 2014. Capturing the benefits of captive insurance. How defined-value gifts can help limit your tax exposure
tax May/June 2014 IMPACT Capturing the benefits of captive insurance How defined-value gifts can help limit your tax exposure Undisclosed foreign accounts: Handle with care Tax Tips Hire your kids to save
More informationThe single source for all your executive benefit needs. A Primer on. Nonqualified Deferred
M Benefit Solutions The single source for all your executive benefit needs A Primer on Nonqualified Deferred Compensation Plans DISCLOSURE INFORMATION This material is intended for informational purposes
More informationBenefits of Owning a Captive Insurance Company
Benefits of Owning a Captive Insurance Company A Game Changing Tool for Business Owners Sean G. King, JD, CPA, MAcc Principal, CIC Services, LLC www.cicservicesllc.com Captive Insurance Companies are a
More information409A non-qualified. Executive Privilege. deferred compensation plans. A turnkey retirement planning supplement for select employees
Executive Privilege 409A non-qualified deferred compensation plans A turnkey retirement planning supplement for select employees Products and financial services provided by American United Life Insurance
More informationPURCHASING REAL ESTATE IN A SELF DIRECTED IRA OR QUALIFIED PENSION PLAN. By Maurice M. Glazer, CEO GLAZER FINANCIAL NETWORK
PURCHASING REAL ESTATE IN A SELF DIRECTED IRA OR QUALIFIED PENSION PLAN By Maurice M. Glazer, CEO GLAZER FINANCIAL NETWORK In today s market or lack of market, most baby boomers have most of their retirement
More informationGroup Captive Insurance Programs for Property and Casualty Coverages
Group Captive Insurance Programs for Property and Casualty Coverages Duke Niedringhaus, ARM Vice President J.W. Terrill, Inc. April 2013 Group captive insurance programs can be an attractive alternative
More informationCaptive Insurance Issues and Trends. Michael Mead, Kyle Mrotek and Doug Youngren
Captive Insurance Issues and Trends Michael Mead, Kyle Mrotek and Doug Youngren What is a Captive and What Does it Do? Michael R. Mead, CPCU, M.R. Mead Co. 1 What It Is Not 2 Definition of Captive Insurance
More informationPresented By: Jeffrey R. Matsen, J.D. David B. Liptz, CPA. March 2010 by Jeffrey R. Matsen
CAPTIVES AND WEALTH TRANSFER AND ESTATE PLANNING Presented By: Jeffrey R. Matsen, J.D. David B. Liptz, CPA March 2010 by Jeffrey R. Matsen +,-,. ") ) /#!! " #"! $%& $ '$ ( $ ( ) %'!" *!! 0 1 (, 2 ( 3 3%)
More informationSection 1042: A tax deferred sale to an ESOP
Section 1042: A tax deferred sale to an ESOP Nick J. Francia Christopher T. Horner Thomas Roback, CEP, QKA UBS Financial Services Dickinson Wright Blue Ridge ESOP Associates The Capital ESOP Group Attorney
More informationUnderstanding Captives and Alternative Risk Transfer
Understanding Captives and Alternative Risk Transfer Putting your insurance premiums to work for you Managing risk as you manage your bottom line What do Verizon, Coca-Cola, BP and most Fortune 500 sized
More informationLife Insurance Education Series
Advanced Planning Life Insurance Education Series Part 5: Life insurance planning for businesses Changes in income- and estate-tax laws as well as volatility in the market may require you to review your
More informationSmall Captive Insurance for the Agribusiness Community. Helping Grow and Protect Your Legacy
Small Captive Insurance for the Agribusiness Community. Helping Grow and Protect Your Legacy Disclosure IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with Treasury Department regulations, we inform
More informationNumber: 200636085 Release Date: 9/8/2006 Internal Revenue Service. Department of the Treasury Washington, DC 20224. Index Number: 162.
Number: 200636085 Release Date: 9/8/2006 Internal Revenue Service Index Number: 162.04-03 ---------------------------- ------------------------------------------------- ---------------------------- -----------------------
More informationMulti-specialty Financial Advisory Team
Multi-specialty Financial Advisory Team Saves Pain Practice $ 12 Million over 7 Years FINANCIAL PLANNING Case Study by John Henry Dreyfuss PMS 7469 PMS 704 PMS 7469 PMS 704 begin with a strategy and a
More informationIMPACT. May/June 2014. Capturing the benefits of captive insurance. How defined-value gifts can help limit your tax exposure
tax May/June 2014 IMPACT Capturing the benefits of captive insurance How defined-value gifts can help limit your tax exposure Undisclosed foreign accounts: Handle with care Tax Tips Hire your kids to save
More informationJanuary 21, 2015 Memorandum 2015 1C. A. File all documents directly with the Insurance Division, Captive Insurance Branch.
DAVID Y. IGE GOVERNOR SHAN S. TSUTSUI LT. GOVERNOR STATE OF HAW AI`I INSURANCE DIVISION DEPARTMENT OF COMMERCE & CONSUMER AFFAIRS P. O. BOX 3614 HONOLULU, HAWAI`I 968113614 335 MERCHANT STREET, ROOM 13
More informationCaptive Insurance Companies
Monthly White Paper Series November, 2012 Captive Insurance Companies This month focuses on a well established, but often underutilized tool for business owners in managing risks and providing added tax
More informationCOMPENSATION GUIDE FOR US CLIENTS
COMPENSATION GUIDE FOR US CLIENTS ABOUT MARSH Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific
More informationBusiness life insurance overview
Allianz Life Insurance Company of North America Business life insurance overview Business planning with life insurance M-5115 Page 1 of 6 There are over 5.6 million businesses in the U.S. with fewer than
More informationThe Delaware Advantage
October, 2012 The Delaware Advantage Flexible and Modern Business Entity Statutes; Respected Courts; Exceptional Service; Stable Environment ; Significant Case Law Decisions; and Unsurpassed Corporate
More informationTABLE OF CONTENTS PAGE GENERAL INFORMATION B-3 CERTAIN FEDERAL INCOME TAX CONSEQUENCES B-3 PUBLISHED RATINGS B-7 ADMINISTRATION B-7
STATEMENT OF ADDITIONAL INFORMATION INDIVIDUAL VARIABLE ANNUITY ISSUED BY JEFFERSON NATIONAL LIFE INSURANCE COMPANY AND JEFFERSON NATIONAL LIFE ANNUITY ACCOUNT G ADMINISTRATIVE OFFICE: P.O. BOX 36840,
More informationCash Investments MORE: Multiple Owner Real Estate
Private Capital Corporation Inland Private Capital Corporation Cash Investments MORE: Multiple Owner Real Estate www.inland-investments.com Inland Private Capital Corporation 415 properties in 44 states
More informationLife Insurance Coverage on a Key Employee
Center for Wealth Management Susan A. Myers, CPA, CFP, CLTC Robert J. Moore Justin M. Williamson 755 W. Big Beaver Rd, Ste 600 Troy, MI 48084 248-680-0490 smyers1@metlife.com www.center4wealthmgmt.com
More informationSection 1042: Sale of a Business to an ESOP
Section 1042: Sale of a Business to an ESOP June 4, 2014 Jeremiah W. Doyle, IV Senior Vice President, Wealth Strategist Table of Contents Overview Qualified Replacement Property Investment Strategy Questions
More informationWhite Paper Life Insurance Coverage on a Key Employee
White Paper Life Insurance Coverage on a Key Employee www.selectportfolio.com Toll Free 800.445.9822 Tel 949.975.7900 Fax 949.900.8181 Securities offered through Securities Equity Group Member FINRA, SIPC,
More informationLincoln Financial Advisors Corporation Financial Planning Brochure
. Lincoln Financial Advisors Corporation Financial Planning Brochure March 26, 2015 Lincoln Financial Advisors Corporation 1300 South Clinton St., Suite 150 Fort Wayne, IN 46802 (800) 237-3813 www.lfa-sagemark.com
More informationYour Target Market. Taking Your Company Global. International Tax & Accounting Services
Your Target Market Taking Your Company Global & Company www.rowbotham.com (415) 433-1177 consulting@rowbotham.com San Francisco Silicon Valley Associated Firms Worldwide International Tax & Accounting
More informationA BILL FOR AN ACT ENTITLED: "AN ACT GENERALLY REVISING CAPTIVE INSURANCE LAWS; PROVIDING
SB00.0 SENATE BILL NO. INTRODUCED BY J. COHENOUR BY REQUEST OF THE STATE AUDITOR 0 A BILL FOR AN ACT ENTITLED: "AN ACT GENERALLY REVISING CAPTIVE INSURANCE LAWS; PROVIDING A PENALTY FOR FAILURE TO FILE
More informationSurvivorship Builder. An indexed survivorship life policy AS2000 (04-15)
Survivorship Builder An indexed survivorship life policy AS2000 (04-15) Accordia Life believes in the essence of family. Your family may be a traditional one. It may be a group of people who care for
More informationAPPLICATION FOR INSURANCE AGENTS AND BROKERS ERRORS AND OMISSIONS COVERAGE
APPLICATION FOR INSURANCE AGENTS AND BROKERS ERRORS AND OMISSIONS COVERAGE (Claims Made Basis) APPLICANT S INSTRUCTIONS: 1. Answer all questions. If the answer requires detail, please attach a separate
More informationHealth Care Reform 101 for June 3, 2013
Commercial & Personal Insurance Employee Benefits Retirement Plan Services Wealth Management Health Care Reform 101 for June 3, 2013 Requirements: Pre-HCR vs. Post-HCR Offering/Maintaining Health Insurance
More informationThe Use of Captive Insurance Companies for Closely Held Businesses
The Use of Captive Insurance Companies for Closely Held Businesses Presented by: Michael F. Amoia, J.D., LL.M., CFP, CLU, ChFC CRUMP LIFE INSURANCE SERVICES Senior Vice President, Advanced Planning and
More informationAMICORP INSURANCE COMPANY (AIC)
AMICORP INSURANCE COMPANY (AIC) AMICORP INSURANCE COMPANY (AIC) INTRODUCTION Amicorp Insurance Company provides all the one-stop expertise you need to set up and manage your captive. Once the structure
More informationBusiness Life Insurance Strategies Guide
Business Life Insurance Strategies Guide Nationwide Business Solutions Group In this guide, Nationwide assumes that universal or variable universal life insurance is used for each of the strategies, unless
More information16 LC 37 2118ER A BILL TO BE ENTITLED AN ACT BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
Senate Bill 347 By: Senator Bethel of the 54th A BILL TO BE ENTITLED AN ACT 1 2 3 4 5 6 To amend Title 33 of the Official Code of Georgia Annotated, relating to insurance, so as to provide for extensive
More informationPlease contact us for more information and/or for additional white paper titles or copies.
Harris Private Bank has helped affluent families grow and preserve their wealth for more than 100 years. We work closely with your existing advisors to make sure all aspects of your wealth strategy fit
More informationWhat Are the Roles and Responsibilities of a Captive Manager?
Captive Management: What Are the Roles and Responsibilities of a Captive Manager? WWW.CHICAGOLANDRISKFORUM.ORG What Is a Captive Insurance Company? A captive is A separate legal entity created or used
More informationAMICORP INSURANCE COMPANY (AIC)
AMICORP INSURANCE COMPANY (AIC) AMICORP INSURANCE COMPANY (AIC) INTRODUCTION Amicorp Insurance Company provides all the one-stop expertise you need to set up and manage your captive. Once the structure
More informationFREQUENTLY ASKED QUESTIONS BUSINESS CONTINUATION
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA BUSINESS STRATEGIES Key Person Life Insurance FREQUENTLY ASKED QUESTIONS BUSINESS CONTINUATION When should a business and its owners consider buying insurance
More informationThe New Florida Insurance Bill SB 130
BILL: SB 130 The Florida Senate BILL ANALYSIS AND FISCAL IMPACT STATEMENT (This document is based on the provisions contained in the legislation as of the latest date listed below.) Prepared By: The Professional
More informationSagemark Consulting. A division of Lincoln Financial Advisors Corporation Financial Planning Brochure
. Sagemark Consulting A division of Lincoln Financial Advisors Corporation Financial Planning Brochure March 30, 2016 Lincoln Financial Advisors Corporation 1300 South Clinton St., Suite 150 Fort Wayne,
More informationEquity Compensation in Limited Liability Companies
Equity Compensation in Limited Liability Companies October 6, 2010 Presented by: Pamela A. Grinter Frank C. Woodruff Introduction to Limited Liability Companies Limited liability companies were created
More informationProtect your business, your family, and your legacy.
An Educational Guide for Business Owners Protect your business, your family, and your legacy. Take a closer look at buy-sell agreements. Needs-based Strategies Your business is probably your single largest
More informationClosely held businesses and professionals
Closely Held Business Can Enjoy Captive Insurance Opportunity Although associated with large corporations, captive insurance companies can be available and beneficial to closely held businesses too. BERNARD
More informationCaptive Insurance Companies in Estate Planning: A Profit Maximization and Risk Reduction Tool
Presenting a live 90-minute webinar with interactive Q&A Captive Insurance Companies in Estate Planning: A Profit Maximization and Risk Reduction Tool Leveraging the Benefits for Asset Protection, Wealth
More informationFORMALIZING YOUR FIRM: LLC VERSUS S CORPORATION VERSUS C CORPORATION
FORMALIZING YOUR FIRM: LLC VERSUS S CORPORATION VERSUS C CORPORATION by Stephanie L. Chandler 1 and Lisa S. Miller 2, Jackson Walker L.L.P. As we work with entrepreneurs in setting up the structures for
More informationPRIVATE FOUNDATIONS. Web: www.aldavlaw.com Blog: www.californiatrustestateandprobatelitigation.com. What is a Private Foundation?
Web: www.aldavlaw.com Blog: www.californiatrustestateandprobatelitigation.com What is a Private Foundation? PRIVATE FOUNDATIONS A private foundation is a charitable organization that is not publicly funded.
More informationUnderstanding mutual fund share classes, fees and certain risk considerations
Disclosure Understanding mutual fund share classes, fees and certain risk considerations Highlights Mutual funds may offer different share classes most commonly in retail brokerage accounts, Class A, B
More informationTax-exempt organizations are subject to more
Non-Profit Organizations Have Few Options for Deferred Compensation By William L. MacDonald and Bruce Knox William MacDonald and Bruce Knox explain how the new Regulations under Code Sec. 409A impose restrictions
More informationExecutive Compensation Strategies. For Academic, Medical, Research and Cultural Institutions
Executive Compensation Strategies For Academic, Medical, Research and Cultural Institutions For institutional investor use only. Not for use with or distribution to the public. TIAA-CREF: A leading provider
More informationAddressing a Corporate Structure Issue
Addressing a Corporate Structure Issue Industry Manufacturing Motivation A manufacturer of safety products believed it had adequate insurance and cash flow to cover its silica claims, but management wanted
More informationA Guide to Life Insurance for Small Business SUN LIFE FINANCIAL
A Guide to Life Insurance for Small Business SUN LIFE FINANCIAL For a small business owner, group life insurance and qualified plans may not be adequate to protect the business from unforeseen risks or
More informationMML Bay State Life Insurance Company Management s Discussion and Analysis Of the 2005 Financial Condition and Results of Operations
MML Bay State Life Insurance Company Management s Discussion and Analysis Of the 2005 Financial Condition and Results of Operations General Management s Discussion and Analysis of Financial Condition and
More informationLife Insurance and Estate Planning for Retirement Plans
Reynolds Financial Group LLC A Registered Investment Advisory Firm 216 Chaucer Drive Irwin, PA 15642 724-863-5005 Phone 724-863-8031 Fax wendyl@reynoldsfinancialgroup.net Life Insurance and Estate Planning
More informationA Sole Proprietor Insured Buy-Sell Plan
A Sole Proprietor Insured Buy-Sell Plan At a sole proprietor s death, the business is dissolved and all business assets and liabilities become part of the sole proprietor's personal estate. Have you evaluated
More informationFederal Tax and Capital Gains: Rates Over Time
Preparing for a World of Higher Taxes Are You Ready? Presented by: Matt Sommer, CFP, CPWA, AIF Director and Senior Retirement Specialist, Retirement Strategy Group C-0610-114 4-30-11 Federal Tax and Capital
More informationThe Basics of Tax Preferred Retirement Programs for Colleges and Universities
The Basics of Tax Preferred Retirement Programs for Colleges and Universities Central Association of College and University Business Officers Winter Workshop Jeffrey D. Frank Shawna M. Jimenez February
More informationIs Account Receivables Your Largest Asset? Unleash the Hidden Values A/R Insurance Can Deliver to Your Company. Presented by Glenn Robins
Is Account Receivables Your Largest Asset? Unleash the Hidden Values A/R Insurance Can Deliver to Your Company Presented by Glenn Robins US Companies Profile On Insuring Assets Compare Balance Sheet Assets
More informationThe Continuing Significance of Non-Qualified Deferred Compensation. From: Louis Lepore TABLE OF CONTENTS
THE PLANNER THE MAY 2010 EDITION Volume 2, Issue 5 A monthly newsletter for Accounting, and Financial Professionals with a focusing on Estate Planning, Elder Law, and Special Needs Persons. The Planner
More informationKey Employee Life Insurance Forward to Counsel and Specimen Documents
Key Employee Life Insurance Forward to Counsel and Specimen Documents Contents 2 I) Introduction 2 II) Strategy/Technique Structure 3 III) Income Tax Implications 3 A. Taxation of the Premiums 3 B. Taxation
More informationTitle 24-A: MAINE INSURANCE CODE
Title 24-A: MAINE INSURANCE CODE Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY HEADING: PL 1991, c. 615, Pt. D, 1 (new) Table of Contents Section 3701. PURPOSE... 3 Section 3702. DEFINITIONS...
More informationBuy/Sell Alternatives - Alternative Strategies
HDaroff@BaystateFinancialPlanning.com www.baystatefinancialplanning.com Who s going to own your business after you? Review of Buy/Sell/Keep Alternatives Structure, Valuation, and Funding ADAMS CO. Business
More informationPrivate Placement Life Insurance
Private Placement Life Insurance Robert W. Chesner, Jr. Leslie C. Giordani 100 CONGRESS AVENUE, SUITE 1440 AUSTIN, TEXAS 78701 phone 512.767.7100 fax 512.767.7101 WWW.GSRP.COM 2009 2015 Giordani, Swanger,
More informationTOP TEN INVESTMENT MISTAKES MADE BY AMERICANS ABROAD
TOP TEN INVESTMENT MISTAKES MADE BY AMERICANS ABROAD January 2015 1) Buying foreign mutual funds. Foreign mutual funds may seem attractive to an American living abroad. However, in the view of the IRS,
More informationIMPACT. Card Palmer. Card Palmer. May/June 2014. Capturing the benefits of captive insurance. How defined-value gifts can help limit your tax exposure
tax May/June 2014 IMPACT Capturing the benefits of captive insurance How defined-value gifts can help limit your tax exposure Undisclosed foreign accounts: Handle with care Tax Tips Hire your kids to save
More information4.76.23 Small Insurance Companies or Associations IRC 501(c)(15)
US Captive Insurance Company Income Tax Audit Guidelines, Captive Foreign Corporation Tax Audit Guidelines, and Captive Liquidation Tax Audit Guidelines Issued by the IRS (offered by Tom Cifelli, data
More informationCaptive Reinsurance. An Innovative Approach to U.S. Employee Benefits
Captive Reinsurance An Innovative Approach to U.S. Employee Benefits The Prudential Insurance Company of America 751 Broad Street, Newark, NJ 0221709-00002-00 Introduction An important corporate function
More informationHot Topics In Insurance Planning: Private Placement Insurance By Jonathan M. Forster, Michael B. Liebeskind, and Jennifer M. Smith
Hot Topics In Insurance Planning: Private Placement Insurance By Jonathan M. Forster, Michael B. Liebeskind, and Jennifer M. Smith As tax rates increase and investment returns decline, high-net-worth clients
More informationIntroduction to Micro Captives & the 831(b) Election
Introduction to Micro Captives & the 831(b) Election Presenters: Tom Ullrich Captive Resources Ernie Achtien Captive Resources Matthew Howard Moore, Ingram, Johnson & Steele Doug Butler Moore, Ingram,
More informationSafe Harbor 401(k) Plan Design Questionnaire
Safe Harbor 401(k) Plan Design Questionnaire Please call Prime Plan Solutions at (888) 445 0031, Option 4, if you have any questions regarding this Plan Design Questionnaire (Monday Friday from 8:30 AM
More informationGENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2013 SESSION LAW 2013-116 HOUSE BILL 473 AN ACT TO ENACT THE NORTH CAROLINA CAPTIVE INSURANCE ACT.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2013 SESSION LAW 2013-116 HOUSE BILL 473 AN ACT TO ENACT THE NORTH CAROLINA CAPTIVE INSURANCE ACT. The General Assembly of North Carolina enacts: SECTION 1. Article
More informationTax and Estate Planning Issues for Canadian Citizens and Residents residing in the U.S. and Dual U.S.- Canadian Citizens
September 23, 2008 Tax and Estate Planning Issues for Canadian Citizens and Residents residing in the U.S. and Dual U.S.- Canadian Citizens Natalia Yegorova is an associate at Black Helterline LLP. Her
More informationKey Person Coverage. Prepared for: Date: Presented by:
Key Person Coverage Prepared for: Date: Presented by: PURPOSE This presentation is for the purpose of helping you understand how life and disability income insurance can be used to overcome the shock to
More informationThursday, 19 April 2016 #WRM 16-20
Thursday, 19 April 2016 #WRM 16-20 The WRMarketplace is created exclusively for AALU Members by the AALU staff and Greenberg Traurig, one of the nation s leading tax and wealth management law firms. The
More informationNEBRASKA DEPARTMENT OF INSURANCE P.O. BOX 82089 LINCOLN, NE 68501-2089. Requirements For Transacting Business as a Managing General Agent
NEBRASKA DEPARTMENT OF INSURANCE P.O. BOX 82089 LINCOLN, NE 68501-2089 Requirements For Transacting Business as a Managing General Agent Article 49 Managing General Agents Section 44-4901 Act, how cited.
More informationFSB Premier Wealth Management, Inc. 131 Tower Park Drive Suite 115. Waterloo, IA 50701 Phone: 800-747-9999. Fax: 319-291-8626. www.fsbfs.
FSB Premier Wealth Management, Inc. 131 Tower Park Drive Suite 115 Waterloo, IA 50701 Phone: 800-747-9999 Fax: 319-291-8626 www.fsbfs.com This brochure provides information about the qualification and
More informationBuy-Sell Agreements Funded With Life Insurance in brief
Buy-Sell Agreements Funded With Life Insurance in brief Buy-Sell Agreements Funded With Life Insurance Why enter into a Buy-Sell Agreement? Create a market for the owner s interest. Provide for mutually
More informationBusiness Uses of Life Insurance
Select Portfolio Management, Inc. David M. Jones, MBA Wealth Advisor 120 Vantis, Suite 430 Aliso Viejo, CA 92656 949-975-7900 dave.jones@selectportfolio.com www.selectportfolio.com Business Uses of Life
More informationINSURANCE COMPANY PROFESSIONAL LIABILITY INSURANCE APPLICATION
i NAME OF INSURANCE COMPANY TO WHICH APPLICATION IS MADE: (herein called the Company) INSURANCE COMPANY PROFESSIONAL LIABILITY INSURANCE APPLICATION IF A POLICY IS ISSUED, IT WILL BE ON A CLAIMS-MADE BASIS
More informationThe State Tax Implications Of Captive Insurance Companies
The State Tax Implications Of Captive Insurance Companies by Cara Griffith The Vermont Department of Financial Regulation announced in April that the state s captive insurance industry is off to a strong
More informationEMPLOYEE STOCK OWNERSHIP PLANS
EMPLOYEE STOCK OWNERSHIP PLANS AN EXTRAORDINARY FINANCIAL AND EMPLOYEE BENEFIT TOOL FOR THE CLOSELY-HELD COMPANY Copyright 2015 Olson Mills Law Firm, LLC All Rights Reserved PART TOPIC PAGE INTRODUCTION...1
More informationWashington, DC. A World-Class City for Captive Insurance
Washington, DC A World-Class City for Captive Insurance Washington, DC A World-Class City for Captive Insurance The Risk Finance Bureau regulates captive insurance companies, risk retention groups and
More information