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When I Felt That I Was Wasting Too Much Money On Premiums, Delaware Captive Proved To Be The Solution

21 Aug Posted by in Mortgage Reduction Updates | Comments
When I Felt That I Was Wasting Too Much Money On Premiums, Delaware Captive Proved To Be The Solution
 

By Lavernn M. Poole

Since I left my occupation and decided to start my own business, I have been growing and growing more successful, but I have also run into my share of problems, some of which have been relieved by Delaware captive insurance. I would not be shocked if many of you are shaking your heads wondering what I am talking about, so I will begin by explaining what brought the idea to my attention, which was that our insurance premiums were incredibly high, but we had little in the way of actual claims. Thus the source of my vexation as I cannot dispute the need for insurance, but at the same time, I do not understand why I was being charged so much for premiums.

I began to do some research into other insurance alternatives and came across the concept of captive insurance, a concept that I had not been familiar with previously. As I understood more and more about it, I saw that this Delaware captive insurance could be the answer to my prayers. It essentially meant that I could set up a captive insurance structure for my business and pay the premium money to the captive which would allow me to save money while still being insured.

I made a few queries to people I respected, and the general idea was that I should get the ball rolling on this right away. So, I began searching for the right people to help me make that happen, which led me to a website for a company that specialized in this sort of process. I got in touch with them and we immediately got started with setting up a captive, which was easier than I expected, but I never would have been able to do it right without professional assistance.

They helped me learn the ins and outs of an 831b captive, which is a tax code term that is very important to those in a situation like mine. This information was met with sincere gratitude from me since it related exactly with the needs of my business and I knew right away that it would make a major difference in my bottom line.

When all was said and done, my business was thriving and the money that I felt like I had been throwing away was still going toward insurance, only now I was able to reap more benefits from it in terms of tax breaks and other incentives. I really value that there are companies that are so well versed in this process that they can make such a significant difference for someone like me who needs their help and support.

Many sites have additional information where potential clients can go to find out more about insurance companies. If you would like to learn more about the subject, please open Delaware captive or you may open this site.

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