Browse: Home / business life insurance
By Ed Hinerman on February 20, 2013
I had an interesting scenario pop up while I was on vacation. Pam hates it when I get side tracked by life insurance when I am supposed to be recharging my batteries, but the truth is my job is fun and batteries can be recharged in more than one way. So I devoted a few ...read more
Posted in business life insurance, Independent agent, insurance, life insurance, life insurance approval, physicians life insurance | Tagged backdating to save age, business life insurance, CEO cover letter, financial justification, insurance, life insurance, life insurance as collateral, life insurance Hawaii, policy issued in 10 days, price and speed, quick approval business life insurance, quick approval life insurance, third party financidals
By Ed Hinerman on December 13, 2012
Any of us who have financial responsibilities should have life insurance to cover the need. I carry life insurance that would pay off rental property and our home if I died, leaving my wife with an income stream and no debt. I carry some more that would replace the need for her to work. She’s ...read more
Posted in business life insurance, buy/sell life insurance, CEO life insurance, death benefit, executives, insurance, life insurance | Tagged business life insurance, buy deceased partners share, buy/sell agreement, ceo life insurance, deceased partner, deceased partners family, family legal right to share of business, insurance, legal buy/sell document, life insurance, liquidate the business, pennies on the dollar, personal life insurance, responsibiiity to partner, responsibility to stockholders, surviving partner, valuation of business |
By Ed Hinerman on November 2, 2012
I’ve brought this up in the past in response to a very real need with missionaries. Traditional life insurance isn’t horribly friendly to folks doing mission work outside of the country, a knee jerk reaction to the fact that there are some places in the world where mission work can be dangerous. Through Lloyds of ...read more
Posted in accidental death, business life insurance, buy/sell life insurance, civilian contractors, Civilian War Zone Coverage, foreign nationals, High Limit AD and D, insurance, International Business insurance, life insurance | Tagged accidental death, accidental death and dismemberment, accidental disability, business life insurance, buy/sell insurance, foreign nationals, high limit insurance, insurance, international business life insurance, international life insurance, key person life insurance, life insurance, missionary life insurance, multi national coverage
By Ed Hinerman on October 16, 2012
The life insurance process is by law and by practice a confidential transaction. Life insurance agents shouldn’t be telling anyone about who they are working for and life insurance examiners shouldn’t be telling anyone about who they have examined and home office personnel shouldn’t be telling friends or family whose buying life insurance through their ...read more
Posted in Alcohol Treatment Life Insurance, approval, business life insurance, court ordered life insurance, Drug Treatment Life Insurance, executives, insurable interest, insurance, International Business insurance, life insurance, Lloyds of London | Tagged business life insurance, confidential life insurance, court ordered life insurance, divorce life insurance, ex wife confidentially buys policy, insurance, insuring someone without their knowledge, lender could purchase life insurance, life insurance, venture capital life insurance, written agreement
By Ed Hinerman on September 15, 2012
It’s a given that most companies would carry key man life insurance or buy/sell life insurance on the CEO. Any company that thinks they are too small or too large for CEO life insurance coverage really hasn’t thought through what would happen if that person didn’t show up to work on Monday. When that question ...read more
Posted in business life insurance, buy/sell life insurance, high net worth, insurance, key man insurance, life insurance
By Ed Hinerman on June 12, 2012
The two things you can count on, death and taxes, right? Well, done correctly at least the two don’t need to be mixed. The Gold Nugget in life insurance death benefits has always been the fact that the proceeds are not income taxable. If you take out $500,000 worth of life insurance and die, your ...read more
Posted in business life insurance, buy/sell life insurance, insurance, key man insurance, life insurance | Tagged after tax dollars, business buy/sell life insurance, business key man life insurance, business life insurance, death and taxes, death benefit not income taxable, deduct the expense, deduct the premium, gold nugget in life insurance, if proceeds were taxable, insurance, life insurance, life insurance purchased with after tax dollars, plan for business succession, Section 162 bonus plan, stick to the rules |
By Ed Hinerman on May 1, 2012
If life and life insurance was all simple there wouldn’t be any bumps in the road. We would all have the coverage we need when we need it and Dorothy would be singing Somewhere Over The Rainbow in the background. Truth is that most of the time with life insurance it is that way. People ...read more
Posted in business life insurance, court ordered life insurance, DUI, insurance, International Business insurance, life insurance | Tagged bank required life insurance, business life insurance, CEO, court ordered life insurance, divorce settlement, DUI, high limit life insurance, insurance, key man life insurance, life insurance, life insurance underwriters, Lloyds of London, needing life insurance now, traditional life insurance
By Ed Hinerman on April 26, 2012
My mother never told me running a small business was easy. In fact it went something more like, “wouldn’t you be better off getting a real job?” I wrote that in 2007, one of the first posts to this forum. I have been self employed since 1978, most of that in life insurance and she’s ...read more
Posted in business life insurance, buy/sell life insurance, insurance, life insurance, term insurance | Tagged bailouts are gone, business life insurance, business succession plan, businesses change rapidly, future in jeopardy, insurance, last 4 years economy, life insurance, more than one policy, protecting our family, term life insurance
By Ed Hinerman on April 7, 2012
Being a small business person myself I know that there are plenty of opportunities to bust your budget if you take everyone’s advice, get all the best bells and whistles and make your business 99.99% bombproof. It’s funny to see success draw the vultures in. My website, this blog, used to have quite a bit ...read more
Posted in business life insurance, buy/sell life insurance, customer service, executives, insurance, International Business insurance, life insurance | Tagged aspiring purchaser of business, business buy/sell life insurance, business life insurance, business succession, business succession life insurance, business succession planning, insurance, key person, key person life insurance, key service provider, life insurance, lost revenue, part ownership, partner, SEO, sole proprietor, sole proprietorship sales value, stock repurchase agreement, value if you die, value of your business
By Ed Hinerman on February 25, 2012
With the introduction several years ago of 30 year term insurance and no lapse guarantee universal life, which is essentially a term for life, some agents have lost sight of the fact that there are legitimate short term needs for life insurance. It wasn’t that long ago when annual renewable term was a popular product, ...read more
Posted in business life insurance, insurance, life insurance, term insurance, travel insurance | Tagged 10 year term, bridge coverage, business sale transition, face amount more important than long term, insurance, life insurance, not all needs are long, not all needs are permanent, short term event insurance, short term life insurance, short term life insurance needs, short term note, short term travel insurance, something is better than nothing, travel insurance, yearly renewable term, YRT
