Insurance Analysis

We provide a review and analysis of our clients’ current life insurance and disability income insurance coverage. We recommend changes in conjunction with our clients’ other professional advisors based upon the latest product and tax law developments. This analysis typically addresses the following types of issues:

• Review the need for insurance to protect existing credit lines at the death of an owner.
• Review potential for loss of income at the death or disability of a key employee and the need for Key-Person life insurance or Business Overhead disability protection.
• Review the current life and disability insurance funding of Buy-Sell Agreements to be sure the coverage accomplishes the contractual obligations.
• Review existing insurance coverage with your professional advisors to determine if the ownership is appropriate to protect the proceeds from estate taxes.
• Review current estate plan with your professional advisors to determine if there is sufficient liquidity at the death of each spouse to pay estate and income taxes.
• Discuss the amount of income needed to protect the family at the death or disability of the current income providers.
• Coordinate your current employee benefits with the goals set for death, disability and retirement.

Insurance Consultants of Virginia, Inc., does not provide tax or legal advice. Please consult with an accountant or attorney concerning your situation.