Business Owner Episode: Buy-Sell Agreements, Key-Person Insurance, and "Insurable Interests"

IBC can help you become your own banker - but what does it do for your business?In today’s episode, Dave and Paul look at IBC through the lens of the business owner. There are unique benefits to IBC and a few different ways that a business owner can take advantage. The guys take a closer look at some of those strategies, as well as their take on owning a policy through a business, the drawbacks and more!Episode Outline:
(0:29) - Beginning of episode(2:55) - Listener question, other ideas for passive income and funding premiums in retirement(7:20) - How can businesses use whole life insurance policies(9:08) - Owning a policy as an individual vs. through your business(10:55) - Buy/sell agreements(17:04) - “Key person” policy(22:10) - Dave’s personal experience with key-person contracts(27:20) - Life insurance for money lending(29:18) - Episode wrap-up
ABOUT YOUR HOSTS:
David Befort and Paul Fugere are the hosts of the Wealth Warehouse Podcast. David is the Founder/CEO of Max Performance Financial. He founded the company with the mission of educating people on the truths about money. David's mission is to show you how you can control your own money, earn guarantees, grow it tax-free, and maintain penalty-free access to it to leverage for opportunities that will provide passive income for the rest of your life. Paul, on the other hand, is an Active Duty U.S. Army officer who graduated from Norwich University in 2002 with a B.A. in History and again in 2012 with a MA in Diplomacy and International Terrorism. Paul met his wife Tammy at Norwich. As a family, they enjoy boating, traveling, sports, hunting, automobiles, and are self-proclaimed food people. Catch up with David and Paul, visit the links below! Website:  https://infinitebanking.org/agents/Fugere494 https://infinitebanking.org/agents/Befort399 LinkedIn: https://www.linkedin.com/in/david-a-befort-jr-09663972/ https://www.linkedin.com/in/paul-fugere-762021b0/ Email: davidandpaul@theibcguys.com