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Life Insurance for Succession Planning
Manage episode 398300995 series 3314227
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What happens to your company when you die? Making sure you have a continuity plan in place can ensure you have a smooth transition and ease the burden on your family. Life insurance can be a big part of that plan. Here's what you need to know when looking for a policy.
Topics we cover in this episode include:
- Why you should start thinking about life insurance when you're young
- Tax considerations for key person life insurance
- How a buy-sell agreement can help pass the company on
- How to keep your company operating as it was after something unexpected happens
- The different types of life insurance
LINKS
Visit the episode page at https://carpentercpas.com/succession for more details and a transcript of the show.
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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com
Chapter
1. 149 - Life Insurance for Succession Planning (00:00:00)
2. Why you should start thinking about life insurance when you're young (00:01:19)
3. Tax considerations for key person life insurance (00:03:05)
4. How a buy-sell agreement can help pass the company on (00:04:34)
5. How to keep your company operating as it was after something unexpected happens (00:06:25)
6. The different types of life insurance (00:11:20)
7. Why you should consider a Group Life policy as a benefit to your employees (00:13:07)
192 episode
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