Case Study
Client/Challenge:
A one-man plumbing operation grew into a profitable enterprise worth $4 million . The company is debt-free, with 10 employees, a small piece of commercial real estate and fleet of 6 trucks. W has always re-invested the earnings back into his business, has very little savings, no life insurance and pays income tax at the highest marginal rates.
Without WEALTHinsurance®:
His young family was at financial risk if he became sick, disabled, or died prematurely. He had no will or powers of attorney and his wife wouldn't know where to locate all of his important documents, bank accounts, or digital passwords.
Outcome:
His ultimate tax liabilities immediately reduced by more than $1.5 million with comprehensive tax and estate planning and placement of appropriate Life Insurance. Premiums are paid by the company tax-efficiently. We protected his income with Disability Insurance that will provide him with $15,000 per month, tax-free, and Critical Illness Insurance that will pay a tax-free lump sum of $1 million if he gets diagnosed with cancer, stroke or a heart attack - and return all the premiums if he stays healthy. His new Personal Health Spending Account allows him to deduct all family medical expenses, including orthodontics for his children. The Estate Directory available free at this website protects his family from unnecessary professional fees.