FAQs

Yes. Subtracting what you already have helps you see the actual gap new coverage may need to fill.

Every few years, and after major changes such as a new home, a new child, or a change in income.

It can be a reasonable starting point, and it is the roughest of the recognized methods. An income multiple ignores what you owe, what you already have set aside, ...

There can be a shortfall or an overfunding. We help keep the coverage aligned with the agreed value and suggest reviewing it as the business changes. ...

Structures vary. Often each owner is insured individually. We will walk through the options for your ownership setup.

The agreement is the legal contract that sets the terms and price. The insurance is the funding that provides cash to carry out the purchase.

Neither is universally better. The right fit depends on the number of owners and tax goals. Your attorney and CPA should make that call, and we will provide the ...

Yes. Permanent policies may build cash value the business can access. We describe that as a feature, not an investment, and we will explain the tradeoffs. ...

Generally premiums for key person coverage are not deductible, and specific rules apply to the proceeds. Confirm the tax treatment with your CPA.

The recognized approaches look at the person's contribution to earnings, the cost to recruit and train a replacement, and any debt or contract obligations that depend on them remaining. ...