Generally speaking, an ideal candidate for an IFA is someone between 35 to 55 years of age. They are investment savvy and have an established business with growing revenues. Their business is on a consistent upward financial trajectory and, as a result, they\u2019re accumulating excess revenue which can be invested.<\/p>\n
In short, an IFA is optimal for someone who is running a financially successful business, planning on working for a while, and doesn\u2019t need the excess revenue for their business and, in turn, are able to invest it.<\/p>\n
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Does it Meet My Needs?<\/strong><\/h3>\nPeople who are best suited for an IFA have life insurance needs. These insurance needs are generally in the form of a\u00a0Key Person and\/or a Buy-Sell Arrangement<\/a>.<\/strong><\/p>\nKey Person Insurance<\/strong>\u00a0is life insurance on the key person in a business, generally the owner, the founders or a key employee.<\/p>\nA buy-sell Agreement<\/strong>\u00a0is an agreement between co-owners of a business that governs the situation if a co-owner dies. This is a way you can finance the buyout of a deceased partner, to insure, for instance, that you don\u2019t become partners with your recently deceased partner\u2019s spouse.<\/p>\nTo qualify for insurance, it should be noted that a pre-assessment of health is required. As the insurance is being used primarily as a \u201cwrapper,\u201d to make their corporate assets work, they are only required to be in reasonably good health\u2013not perfect or phenomenal.<\/p>\n
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Common Questions<\/strong><\/h3>\nThose who are interested in an IFA often ask the following questions:<\/p>\n
\n- <\/i>\u00a0Is it better to rent term insurance or own permanent insurance<\/a>?<\/li>\n
- <\/i>\u00a0Are there ways that I can be running my business more tax efficiently?<\/li>\n
- <\/i>\u00a0In light of the new 2017 tax laws,<\/strong>\u00a0are there things I should be doing differently or be made aware of, as a result of those changes?<\/li>\n<\/ul>\n
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Why Might an IFA be Suitable for Me?<\/strong><\/h3>\nWith an IFA, you can:<\/p>\n
\n- <\/i>\u00a0Buy and own your insurance instead of renting it<\/a><\/li>\n
- <\/i>\u00a0Use the corporate insurance to house your investment dollars, gross tax-free<\/li>\n
- <\/i>\u00a0Leverage off that corporate insurance asset to continue to buy real-estate, investment portfolios and other alternative investments<\/li>\n
- <\/i>\u00a0Achieve tax efficiencies and savings, particularly in light of the 2017 tax changes<\/li>\n<\/ul>\n
Further to the above reasons, you will also have put into place a\u00a0powerful tool for your estate plan<\/a>, even if that\u2019<\/strong>s not a focus for you right now.\u00a0<\/strong><\/p>\n <\/p>\n
Contact MGF<\/strong><\/h3>\nPlease contact me for more information on how IFA works, and whether it\u2019s right for you. I\u2019m looking forward to being a part of your\u00a0professional advisory team<\/a>\u00a0in order to help you create your best financial plan.<\/p>\n
Key Person Insurance<\/strong>\u00a0is life insurance on the key person in a business, generally the owner, the founders or a key employee.<\/p>\n A buy-sell Agreement<\/strong>\u00a0is an agreement between co-owners of a business that governs the situation if a co-owner dies. This is a way you can finance the buyout of a deceased partner, to insure, for instance, that you don\u2019t become partners with your recently deceased partner\u2019s spouse.<\/p>\n To qualify for insurance, it should be noted that a pre-assessment of health is required. As the insurance is being used primarily as a \u201cwrapper,\u201d to make their corporate assets work, they are only required to be in reasonably good health\u2013not perfect or phenomenal.<\/p>\n <\/p>\n Those who are interested in an IFA often ask the following questions:<\/p>\n <\/p>\n With an IFA, you can:<\/p>\n Further to the above reasons, you will also have put into place a\u00a0powerful tool for your estate plan<\/a>, even if that\u2019<\/strong>s not a focus for you right now.\u00a0<\/strong><\/p>\n <\/p>\n Please contact me for more information on how IFA works, and whether it\u2019s right for you. I\u2019m looking forward to being a part of your\u00a0professional advisory team<\/a>\u00a0in order to help you create your best financial plan.<\/p>\nCommon Questions<\/strong><\/h3>\n
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Why Might an IFA be Suitable for Me?<\/strong><\/h3>\n
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Contact MGF<\/strong><\/h3>\n
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