Closely Held Business Owners and the Value of Insurance

A solid financial plan for small businesses is vital, and part of that financial plan should be insurance. Insurance is essential to preserve small businesses, cover their assets, and safeguard their employees. Here are some types of insurance coverage a small business should have and why this is critical to your financial plan. General Liability [...]

Use Your Annuity to Pay for Long Term Care Insurance

Generally, to be considered a tax-free exchange rather than a taxable surrender, you cannot receive the annuity proceeds directly—the proceeds from the annuity must be paid directly to the long-term care insurance company. Also, Section 1035 applies only if both the annuity contract and the long-term care insurance policy are owned by the same person [...]

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