A “Buy Sell Agreement” is an agreement under which one party in a business agrees to buy another party’s ownership interest in the business at death. Buy sell agreements usually occur between partners, but may be established between investors, shareholders and may also be used by key employees who wish to purchase the business they work for in the event of an owner’s [...]
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Key Person Life Insurance is simply life insurance taken out on an individual (or individuals) in a business who is (are) vital to the business’ operation. If the key person were to die unexpectedly, the business would either sustain a substantial financial loss or suffer financially to the point of going out of [...] Health Savings Accounts Cincinnati Would you like to learn more about Health Savings Accounts (HSA Plans) or see quotes for you or your company? The best way to learn more about HSA Plans from our agency is to have us contact you about a custom proposal. The easiest way to do so, is to submit your [...] Annuities may contain a combination of pre-tax and after tax dollars depending on how they are funded. If an individual puts $10,000 of after tax dollars in an annuity and over time the annuity value grows to $20,000, the annuity now contains a combination of before tax and after tax [...] Other factors contributing to the amount of benefit paid out by an annuity are company expenses and investment returns. One insurance company’s investment portfolio may outperform (or underperform another company) thereby affecting payout amounts. Further, operating expenses can play a part in calculating benefit amounts. An insurer with higher operating expenses may yield lower benefit amounts to annuity [...] The second stage of a annuity, after the accumulation stage, is the payout or annuitization stage. Once a person reaches 59.5 years of age, he or she can begin withdrawing funds from an annuity. Funds can be withdrawn in a lump sum, on a fixed period basis, or on an annuitized basis. There are many structures for withdrawal of funds from an [...] An annuity may be an “immediate” annuity or a “deferred” annuity. In the case of an immediate annuity, a person deposits funds with an insurer and a payout option begins “immediately” (may take 30 to 45 days). With a deferred annuity, an individual deposits funds (in a lump sum or through contributions over time) and “defers” annuity benefits until a later date, such as [...] At McCarthy Stevenot Agency, Inc., we have over 20 years of experience serving the needs of small business clients. We are particularly focused on small group health insurance, and we are the broker for hundreds of small businesses in the greater Cincinnati [...] Group term life insurance is usually purchased with a fixed face amount (death benefit) for all employees (i.e. $20,000 per employee), or as a multiple of earnings to a specified maximum (i.e. 1.5X earnings to a maximum of $50,000 per employee). Plans can be customized to reflect a wide array of face amounts and plan caps depending on the group and the [...] At McCarthy Stevenot Agency, Inc., we can help answer your questions about annuities, and provide you with access to a wide variety of fixed annuity products. An annuity is a financial device that pays an income stream to an “annuitant” or insured individual for a specified period of time. |
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