Best plan for a business owner thinking of exiting/selling a business.

Many business owners ARE the business itself w/o a lot of assets. So, what happens when they are ready to exit or retire? Do they just close it down and layoff any employees they might have?

Now with the SRP, owners have a way to receive the intrinsic value of their business now, rather than to walk away at the end with nothing.

Let's find out how you avoid ending up with nothing after years of working your business.

Answer a few questions and we'll set up a call with you right away: www.BusinessBuyer.us

What is the optimum age a prospect should be to take advantage of SRP?

When SRP is used specifically for retirement purposes, there should be approximately 10 years allowed for the policy to grow. Therefore, the 'oldest' age that a policy would be feasible to fund with the intention of retirement income is around age 60. (This enables the policy to grow for 10 years and loans can begin as tax free income from the policy at age 70.)

If the policy is being used to fund Estate Planning or general death benefit needs then the maximum age is approximately between 80 - 85. This approximation must take into consideration the health of the client, the network and which carrier we will use.

Can SRP be utilized if the owner and other possible participants are already participating in a company retirement or pension plan, 401K or other form of company sponsored retirement planning?

Certainly, SRP can be setup for supplemental retirement income above and beyond the current qualified plan they are participating in and/or an added death benefit for estate planning or wealth transference coverage.

Question: Is the life insurance for the Business Owner a whole life plan or term?

The inclusion of the insurance plan within the overall scheme of things is rather vague. The policy itself can be whole life, never term as there is no cash value, but typically we place the fund's into an Indexed Universal Life Policy. We make a corporate loan to the company and then transfer those funds to the principal (typically the owner of the corp) and then the principal funds the policy with the borrowed monies, usually over a 5-7 year period.

  Is SRP limited to Business Owners? Could other key personnel set one up personally?

SRP is driven by the owner(s) of the business, meaning the owners/board members of the corporation must sign off on the transaction as we are making a corporate loan. Often, owners will use this program to place key man or 'golden handcuff' insurance on one of their employees. However, key personnel cannot utilize SRP individually.